What is the Future of Cryptocurrency?

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What is the Future of Cryptocurrency?
What is the Future of Cryptocurrency?

What is the Future of Cryptocurrency? We’ve seen Bitcoin hit a new all-time high price, regulatory talks with the potential to have a big impact on the industry, and more institutional buy-in from major companies. All the while, people’s interest in crypto has skyrocketed this year: it’s a hot topic not only among investors but in popular culture too, thanks to everyone from long-standing investors like Elon Musk to that kid from your high school on Facebook. In many ways, the first half of 2021 has been a “breakthrough,” says Dave Abner, head of global development at Gemini, a popular cryptocurrency exchange. “There’s tremendous for

“The Future of Cryptocurrency”

There’s tremendous potential and tremendous hype, so we knew we had to see if the second half would deliver. Bitcoin and Ethereum have both seen a relatively small rise in prices so far in 2017. Cryptocurrency is still “a tiny fraction of all the money in the world,” says Abner. And, the cryptocurrency market looks as much like the speculative Internet bubble of 1999 or the housing bubble of 2008 as it does the exciting new market bubble that was to follow. There is a very long way to go, but we wanted to find out what the future would look like for Bitcoin and other cryptocurrencies. How many crypto-currencies will have by the end of 2021? And, what will the real price be? And what are the implications for investors and businesses?

The Rise of Crypto

As of March, Gemini’s bitcoin trading volume was equal to $1.4 billion. It now hovers between $1.5 and $2 billion a month. More and more people are learning about bitcoin and other digital currencies, thanks in large part to businesses including San Francisco-based Coinbase and up-and-coming startups like Circle. There are even a growing number of merchants that accept bitcoin payments. It’s enough to make some people nervous, but Abner believes that these concerns are overblown. “It doesn’t take a huge amount of public enthusiasm to carry the market,” he says. Right now, about 20 percent of global trade is conducted in bitcoin, and those numbers are expected to increase to 40 percent in 2020, Abner says.

What does Will Happen in the Future?

As the prices continue to soar, the stories of people starting businesses with the potential to do big things with crypto (remember, a crypto token is just a new kind of digital asset) grow more prevalent. What’s more, we’re getting to see the early stages of “the emergence of killer applications,” Abner says. A lot of the talk centers on fintech companies, like Overstock and Coinbase, and its Circle subsidiary. But even an online auto insurer, Lemonade, is going through an ICO process, using ICO to raise money. While startups and others start working on these applications, though, there is no shortage of regulatory issues that have people scratching their heads.

Conclusion

Ultimately, the future of cryptocurrency will hinge on how Bitcoin and other “utility coins” perform. Ultimately, the future of cryptocurrency will hinge on how Bitcoin and other “utility coins” perform. With so much happening in the blockchain space, there are several reasons to be optimistic. For starters, Bitcoin continues to gain traction in the market. Ultimately, the future of cryptocurrency will hinge on how Bitcoin and other “utility coins” perform. With so much happening in the blockchain space, there are several reasons to be optimistic. For starters, Bitcoin continues to gain traction in the market. One of the biggest arguments for people who aren’t Bitcoin investors is that some coins are more “better.

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