Best Reasons To Believe Bitcoin And Blockchain Crypto Assets Are The Future Of Money

Cryptocurrencies have been expanding all over the world during the last years and reached a large number of individuals investing in it. However, due to increased scrutiny from regulatory agencies and the bear market experienced during 2018, several analysts started to be more skeptical about the future of digital assets and blockchain technology.

Nigel Green, the founder, and CEO of the deVere Group, cryptocurrencies are the future of money. About it, he gave seven reasons why the bear market might be coming to an end, thus paving the way to a new bull market.

In a recent article written in Forbes, Green explained why the crypto market will start to grow in the near future.

The first thing he mentioned is digitization. Some analysts think that the fourth industrial revolution is related to digitization. That means that as virtual currencies are digital, they will be part of this fourth industrial revolution.

Globalization is also an important thing to take into account. Cryptocurrencies are borderless by nature and suit perfectly to a globalized world of commerce, trade, and movement of people.

The third thing that he commented is related to decentralization. The world financial crisis that affected the whole world back in 2009 reduced the trust in governments. The same happened with banks and traditional financial institutions. Bitcoin was created in 2008 by Satoshi Nakamoto during the crisis. The intention was to create a parallel financial system based on mathematics and coding.

Fourthly, virtual currencies provide real-life solutions for many individuals and companies all over the world. There are several digital currencies that work better than other solutions made by legacy systems. It is easy to process a cross-border transaction using digital assets and it is also cheaper and faster.

It is possible to provide financial services to individuals that do not have bank accounts. Using Bitcoin and other cryptocurrencies it should be simple. In a globalized world, Bitcoin allows for it.

According to a recent investigation released by Coinbase, college students in the United States are two times as likely to own cryptocurrencies than the average individual in the US. This shows that demographics play an important role in the virtual currency market. That means that in the future, new individuals will start using virtual currencies more than the current or older generations.

At the moment, the International Monetary Fund (IMF) and the G20 are analyzing possible regulations for digital currencies and blockchain technology. There are several countries that are making important steps in order to regulate the crypto space. Companies and investors are also requesting more regulations in the market. If regulatory agencies are able to create a flexible regulatory system, institutions could also start entering the market and embracing virtual currencies.

Finally, the Fear of Missing Out (FOMO) will also play an important role in allowing digital assets to grow. As soon as companies and individuals recognize this growing trend of virtual currencies, it might be possible for the space to be accepted and established all over the world.

About institutional investors, Green commented:

“The acceleration of institutional investment is likely to be driven by greater regulatory clarity. More and more global jurisdictions can be expected to join the likes of Malta, Hong Kong, Japan and Switzerland in becoming crypto-friendly from a regulatory and pro-business viewpoint.”

At the same time, he is very confident about the increasing demand for Bitcoin in the future. Ethereum (ETH) for smart contracts while XRP for processing cross-border payments. Indeed, Ripple is currently partnering with several companies to start offering cross-border payment services that were offered before by SWIFT.

The Intercontinental Exchange (ICE) is going to release the Bakkt platform. Fidelity Investments might be releasing a crypto institutional product during the first quarter of 2019. In the future, a crypto exchange-traded fund (ETF) could be approved as well, allowing new investors to enter the space.

Currently, each BTC can be purchased for $3,479. It has a market capitalization of $60.95 billion.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide