What is the future of cryptocurrency: Expert predictions
Are you a crypto stalwart? Are you keen to know more about cryptocurrencies and what will be their value in the future? Let’s look at some expert predictions.
Many people around the world today are curious about investing in cryptocurrencies, and platforms like profit-edge.com have simplified the entire process. But it doesn’t matter how popular Bitcoin or other cryptocurrencies are, there are still many natural apprehensions around getting started.
Knowing what exactly you are investing in can help you to make the right decision and give you a better return in the future. This article highlights expert predictions on Bitcoin and other cryptocurrencies that will help you make a more informed decision.
Five expert predictions for cryptocurrencies
Here are five expert predictions on the future of cryptocurrencies.
1) Bitcoin and cryptocurrencies will be a part of the mainstream transactions
If it had been 2009 and someone was stating that Bitcoin would be a valued asset, most people would have mocked them. But today, the scenario is different. People are investing in cryptocurrencies.
As a generalisation, millennials are more inclined to invest in cryptos than stocks and shares primarily because it has a better return. For example, PayPal users in the US can now buy and sell Bitcoin. Recently Elon Musk mentioned that Dogecoin has more potential than Bitcoin, which led to a 20% increase in the value of Dogecoins.
2) Stablecoins will have prominence
While stablecoins may not be as famous, when it comes to their future and prospects of growth, stablecoins are definitely worth of attention.
Stablecoins have a market capitalization of tens of billions and offer faster payment. The applicability of stable coins is huge, so we can witness maximum use of these coins. Stablecoins are coins that work as reserve assets. These are just like gold, and when the regulation on cryptocurrencies are there, Stablecoins could prove to be a faster medium of transaction.
3) The role of Blockchain will be beyond cryptocurrencytransactions
One of the biggest transformations that we have witnessed in recent years is a shift to alternate technology. Bitcoin not only introduced us to a new mode of transaction but also brought forth new technology, or decentralized technology or Blockchain.
This decentralized platform works on peer-to-peer interaction and doesn’t have any third party governing the entire process. This makes Blockchaintechnology free from conventionalplatforms, which are plagued with the cumbersome processes of validations, verification and huge processing fees.
With Blockchain, a number of industry segments could benefit, like supply chaincompanies, fintech companies, healthcare, media, education and more. SO, we can expect Blockchain to be the future of technology.
4) Central banks will introduce their digital currency
While there was so much hype about Bitcoin and its future, today we have many nations contemplating introducing their digital currencies. With the growing use cases of Bitcoin and cryptos and more and more people investing in it, central banks now have to focus on creating a more regulated version of digital currencies.
As per a Bank for International Settlements survey, around 80% of the central banks are now working on introducing their digital currencies. China is one of the leading nations that have worked on introducing their cryptocurrencies. Recently a lottery was held in Suzhou, China, and in this lottery, around 100,000 residents received 200 renminbi (about $30) through a digital wallet. China has also launched digital Yuan, and the authorities claim that 10,000 stores in China would accept these digital currencies.
5) Regulations will come into the picture
This will bring revolutionary changes in the world of cryptocurrency transactions. Presently, no regulations govern the Bitcoin exchange or crypto transactions, but soon we will see new regulations coming into the picture. This will remove all the apprehensions surrounding cryptocurrency transactions.
It’s important to know what you are investing in
These are some of the key predictions on Bitcoin, Blockchain and other cryptocurrencies. Unlike 2009, today is a very different world for cryptos.
People are keen to know about cryptocurrency, they want to invest in it, and these future predictions certainly indicate this trend continuing. Knowing what you are choosing to invest in will help you track your success and profits in the future. However, like any investment, it’s essential that you conduct research and know exactly what you are investing in.