Bitcoin and the cryptocurrency world as a whole keep moving from strength to strength. Even in the face of heavy regulation and mines being taken offline in some countries, crypto’s are still a worthy investment. With the marketplace full of different kinds of cryptocurrencies, there has always been one that has stood out, Bitcoin. As it continues to grow, here are the Bitcoin trends to pay attention to over the coming months and years.
One of the most significant changes that have hit the Bitcoin world is adoption. Even though Bitcoin has been accepted by some businesses on a micro-level for years now, there hasn’t been wholesale adoption yet.
However, that has now changed. El Salvador, surprisingly to some, became the first country to decree that Bitcoin was a legal tender. This step is what Bitcoin investors have been waiting for, for a few years now.
El Salvador is a country that uses the US Dollar. Adopting Bitcoin has now allowed them to become less dependent on the currency that keeps their country afloat. The main benefit of cryptocurrencies, they aren’t tied to regular money in any way.
While this adoption is most definitely an experiment right now, as no other country has tried this, it shows that there are ways to introduce cryptos into your economy. However, it is a matter of time to see if this works; it is fascinating.
The next big step in Bitcoin is the Bitcoin ETF (Electronic Traded Fund). While it doesn’t exist right now, this system would allow Bitcoin investors to buy and trade their coins much more quickly and integrate their cryptocurrencies into their existing portfolios.
This merging of investments would eliminate the need to store and protect your crypto’s separately. This type of advancement will be met with regulations. However, it will make Bitcoin and other cryptocurrencies far more mainstream.
Regulation has almost become the boogeyman in the world of cryptocurrency. Many countries and governments are trying harder to stop buying and selling of cryptocurrency instead of finding ways to implement it into their economy.
More and more Bitcoin mines are being shut down every day, and there is a worry that Bitcoin and other cryptocurrencies will revert to what they once were, almost worthless internet coins that you could use to buy a pizza.
However, many experts believe that there is more of a trend towards countries trying to handle cryptocurrencies better. They do want to possibly integrate it into their economy; they are just trying to figure out how.
Some businesses have started the trend of creating their cryptocurrencies instead of accepting the ones that exist. This at least gives them a bit more power and control. Whether this is an option for countries as a whole is not known yet.
Value Increase is Overdue
Many believe another big value move is on the horizon. This is due to the way the currency has performed over the past few months and years, and the increase in institutional demand.
Companies like Tesla, Microstrategy Incorporated, and Grayscale Bitcoin Trust have invested billions into the cryptocurrency and don’t look to be slowing down any time soon. Many of these companies and the experts associated with them also believe Bitcoin will hit $100,000.
On the other hand, it is also widely accepted that you should take these predictions with a grain of salt. While the value of Bitcoin should increase as the total amount left becomes less and less, you never know what can happen.
We live in a world where a country has fully adopted it, but you move to another part of the globe, and the countries are trying to stop it altogether. There is no definitive outcome just yet.
More Investors Entering the Market
Probably something less of a trend now and more of a norm is that more and more people are ignoring the typical investment paths and moving towards cryptocurrency. Everyone from youngsters leaving school to grandparents wanting to diversify their portfolio.
Considering the internet can teach you everything you need to know about cryptocurrency, or at least how to invest properly, more people are becoming involved. This increase also plays into the adoption trend, as adoption will almost become inevitable.
If more and more people are using cryptocurrency, governments will realize that they just can’t stop the movement, and adoption is the only choice. While this may be a long way away, this is why it can be considered something that is definitely on the horizon.
These are the biggest trends that we can expect in the Bitcoin world soon. There are some more, but these are the ones that will have the most significant long-term and short-term impact.
Adoption is sure to occur more frequently, regulation will be a part of that, and a price increase is becoming more likely as the days go by. The Bitcoin space is growing and is moving to the point of changing currency as we know it forever.