What does the future of cryptocurrency look like?
We all have our strategies when it comes to cryptocurrency. Some people are rapid buyer/seller types, others are perpetual bag holders, still others are investors. No matter what you’re doing with your crypto, it seems like everywhere you look there’s nothing but bad news. What’s going on with the present and future of cryptocurrency and what can we expect?
Behind the scenes in cryptocurrency
The good news, however, is that necessity is the mother of invention. As such, there are many people and companies out there working hard to make cryptocurrency a necessity. These people aren’t necessarily saying that cryptocurrency will replace money entirely. But they’re arguing that it has a function in the world that fiat money simply cannot compare fill.
Focusing on Decentralization
One aspect of cryptocurrency that seems to appeal to people, on the whole, is the circumvention of the banking system in sending mass amounts of cryptocurrency from one end of the globe to another. Decentralization showed banks that sending money can be free, or at least significantly cheaper than what they offer. That simple fact cannot be erased once realized.
Banks then tend to leave a sour taste in the mouths of people, whether those people support crypto or not. Crypto showed us a new way of doing things, that there isn’t just one option, that there is a means by which we can do things differently when it comes to our money.
Hopeful for the Future of Cryptocurrency
While of course cryptocurrency will not replace fiat, or even come close to having as many uses, there still are plenty of ways to utilize cryptocurrency, especially day to day, that is more simple.
While the world may be seeing drops in crypto values and further push for regulation, the idea, and concept of crypto will still be extremely difficult to eradicate.
This isn’t the first time we’ve seen the value of an asset plummet only to recover in the future. Mati Greenspan, a Senior Analyst at eToro, remains optimistic about the future of crypto suggesting things could change for the better, and in a big way.
While stocks and cryptocurrency radically differ from one another the message is clear, things can recover.
Since the concept of cryptocurrency doesn’t belong to a particular company or individual it’s future may not unfold in the way we have seen stocks recover in the past. The future of cryptocurrency is in uncharted territory, as it blazes its own trail. In doing so it may create a future for itself unlike anything the world has ever seen.
Also published on Medium.