Cryptocurrency has literally been dominating for the last few months. Despite the Covid-19 damaged the whole Financial Barrier, Cryptocurrencies are still at their peak. The motive behind Bitcoin has always been the concept of decentralization that took these Crypto’s so far.
In this article, we’ll analyze What could be the Future of Cryptocurrency. We’ll compare all facts to Find out if Crypto has the potential to survive in the Long Term.
Potential of Cryptocurrency
Though All the Cryptocurrencies are at a peak in 2021, it seems promising right now as we have seen a sharp rocket boost in coins like DogeCoin, Bitcoin, and others, making a heightened slope in the Pricing Graph.
Many Investors including teenagers nowadays are looking forward to investing in Cryptocurrency for the long term so they can receive the benefit from Both Crypto & Compounding.
Well, If you’re aware of How compounding works and implement it properly, You can have financial freedom in your earlies.
As we have seen the majority of Crypto Coins having a huge success, combined both can produce a return on your investments to the next level.
At the current time, Many companies have taken initiatives to invest a minor percentage of their portfolio in Cryptocurrencies to tackle market inflation and generate positive revenue.
Let’s suppose when a company is investing a part of their profit portfolio, even the minor portion of that turns out to be about millions of dollars & even in some cases the amount is in Billions. The best part is, there are numerous companies having the same intentions of investing.
The concept of investing is going to heavily affect Crypto’s Market cap in a positive manner, delivering a huge percentage of return in the long run.
Will Crypto be the future?
There is no one who can clearly bet on Cryptocurrency’s existence after a few decades. All we know is that the concept of Cryptocurrency has enough potential to help the Financial backbone of any Country if used in a positive manner.
To analyze Cryptocurrency’s existence in the future, we need to look through how they have been performing since their existence & listing period.
We’ve many gone through many successors, the user’s all-time favorite has been these Bitcoin andEhtereum.
Invented by Vitalik Buterin in 2015, Ethereum is an open-source blockchain-based platform, designed to be Unhackable. Ether, or ETH, is the cryptocurrency used to complete transactions on the blockchain.
At that time, Ethereum was valued $1.30 approx per coin, 5 years later, it’s swinging to $2500 or more, providing a return of 2000%. Today the market cap of Ethereum is almost $30Billion.
Created by Satoshi Nakamoto in 2009, Bitcoin’s a decentralized digital currency that you can buy, sell and exchange directly, without an intermediary like a bank.
Back in the Initial days of it, the value of Bitcoin rose up to $0.08 when it got listed. 10 Years later, Now Bitcoin has achieved a huge milestone, Its current value is approx $40,000, Providing more than 40,000% of return. The market cap of Bitcoin has reached 1000 Billion.
Take a look at the valuation of the Graph of both Cryptocurrencies since their Listing which can help to understand the probable Future of Cryptocurrency.
Is it Possible to Predict Crypto?
In order to Predict Crypto’s future possibilities, first, you need to understand the Principles of how Cryptocurrencies work. Let us discuss shortly all the Concepts of Cryptocurrency.
The majority of Cryptocurrencies have their own concept of blockchain technology which relies on a network of computers to keep track of transactions rather than on a centralized authority like a bank.
It’s is almost impossible to accurately Predict any Crypto coin. Instead, by looking at the market cap and the concept of the Blockchain, along with the number of people getting into it, we can certainly assume the currencies survival ratio in the Future.
Government's Perspective on Crypto
Obviously for Crypto to survive in long term, it has to be allowed for transactions by the Government.
Recently, we’ve seen Cryptocurrency struggling to be one of the Official mediums of transaction in India. Regular rumors of ‘Cryptocurrency being banned by RBI’ are demolishing Crypto investment rates.
As These currencies do not keep any track of transaction history, Government doesn’t rely on their existence in the financial backbone, indeed they can be used for illegal activities & their transactions.
Conclusion | Future of Cryptocurrency
We’ve seen how Blockchain Technology can change the whole Financial field with a Decentralized system. Let’s talk about what we think about the Future of Cryptocurrency.
In our perspective, Cryptocurrency will be there for a very long time, as they have achieved a very large Market Cap, and has been accepted by numerous Institutions, It’s almost non-negotiable to turn down that Crypto will survive in the Future.
I hope you liked the article about the ‘Future of Cryptocurrency’, if you did, share it with others, See you next time.