Take a look at what’s happened in the cryptocurrency space in the year of 2021 alone, it’s staggering. We’ve seen a huge movement in market price, the development of new technology underpinned by prominent cryptocurrency blockchains and the generation of many new altcoins.
Moreover, the development of a wealth of tools and data to support the industry has helped to bring newcomers into the crypto sphere. Users now have access to crypto comparison sites that offer reports from customers, detailing personal experiences. Users can access Coinbase and Bitrue reviews left by customers at the click of a button, giving them all the details they need to begin their crypto journey.
With such easy access to the market, one wonders what’s next for crypto. Anything we learn quickly becomes a truth in this industry, so it’s important to predict what may come. We look back at what’s happened so far and highlight some of the key learnings, which may give us insight into what the future holds.
The Public are Being Forced to Learn About Finance
Whether you trade a few Bitcoins, or you’re heavily invested in the industry, one thing is undeniable and that’s the importance of understanding how money works. Crypto skeptics are always asking “what backs Bitcoin?”, as if they understand what underpins their own currency. Ultimately, like any investment, it’s about a belief in the asset. If enough people own a particular cryptocoin, it will become valuable as a digital asset. Many people simply find it difficult to adapt and accept the changing financial landscape. Altering the notion that currency only exists as the currency used by the country you reside in is a complex task, but it’s clear public opinion is changing.
It’s the Community that Drives Digital Asset Value
From the public traders to fintech developers driving the next great blockchain project, the people within the community are those that are bringing value to the sector. The talented people, offering new perspectives and providing unique experiences for users. The interest in cryptocurrencies spans the globe and boasts a collective of individuals across almost all sectors of industry, contributing in their own unique way to deliver a diverse and revolutionary industry. Every single person that contributes to the industry is shaping the landscape for today and what will be in a few years to come.
Believe in the Technology
Like never before, the public are being given an easy way into new technologies and financially backing, however small the figure may be, new revolutionary projects based on blockchain technology. Blockchain empowers it’s users to start asking questions about finance, money, and how traditional financial methods work. The introduction of the internet made the world a more open place, with people feeling freer and given more confidence to question how things work; from politics to economics, the public started to demand more. Now with crypto, the public wants to know more and understand how these new technologies can shape the future and give back power to the people, relieving middlemen of power and shifting away from centralized control of finance.
High Volatility is Relative
The highly volatile environment that crypto operates within is undeniable. But, what the media and crypto skeptics fail to recognise is the whole industrys’ value is growing at a rapid rate. The volatility of the cryptocurrency market as a whole makes it difficult to put a monetary figure on it, but it’s obvious that things are moving in the right direction. The inconsistencies in the market are what make it so exciting, who knows what will happen in a year? For now, let’s focus on what might happen tomorrow.