Although cryptocurrencies are not that old, their history is still very fascinating.
When it was first introduced in the market, a significant population didn’t believe in this concept.
Even many investing gurus and financial experts thought it was a sham that would fade away over time.
But things that happened after 2009 changed peoples’ perspectives for good.
People who were wary of cryptocurrencies and mistook them for sophisticated scams are now flocking to get their share of digital currencies.
But is running behind cryptocurrencies still safe? Where are they heading in the near future? Should you still buy Bitcoin online?
It is natural to have so many doubts in mind as an investor. Everyone wants to ensure that they invest in an asset that gives them considerable profits in the foreseeable future.
If you’re wondering whether you should invest in cryptocurrency or not, keeping its future in mind, this guide is here to help.
After evaluating the prevalent market conditions, and expected changes and talking to various crypto experts, we’ve concluded that the following changes are set to occur regarding cryptocurrency.
Regulations And Frameworks May Be On The Horizon
Since cryptocurrencies were launched online and introduced in the financial market, they remained out of government control worldwide.
It means no government can influence or dictate the prices of any cryptocurrency.
While no government took it seriously in the initial years, things started to change as this asset class started gaining more popularity.
Governments feel they can lose control if they don’t bring this sector under regulation.
Keeping this notion in mind, many countries are now considering setting definite rules and regulations for the cryptocurrency market.
In the past, countries like India, Russia, and China have taken steps to either regularise or ban the use of cryptocurrency, but the efforts were not successful.
However, global governments are expected to set regulations that will be unavoidable in the near future. The expected guidelines can remove many stumbling blocks for investors.
Cryptocurrency Can Become Mainstream Around The World
Although the current situation can make you believe that cryptocurrencies are already widely accepted, it isn’t to the level where you can call them mainstream.
But when we talked to industry experts, we found they have very optimistic views on the whole situation.
They believe it will become a widely and more accepted means of payment in the coming years.
Various banks, eCommerce platforms, and online gaming apps have already started accepting Bitcoin as a mode of payment. Big organizations like Tesla, PayPal, and Square are also not behind.
It is believed that cryptocurrency will soon become the go-to currency for international trade.
So if you want to buy Shiba Inu coin, Bitcoin, Ethereum Ripple, or some other cryptocurrencies, now is the best time. Some big organizations have already started building their own cryptocurrency.
You can say that organizations will have no option but to adapt to the frequent use of cryptocurrency in the coming years.
If you remember, Jamie Dimon, the chief executive of JP Morgan Chase, said in 2014 that cryptocurrencies are not an excellent option to store value.
But fast forward to 2021, JP Morgan Chase is one of those organizations trying their best to catch up to the cryptocurrency wave.
Rapid Increase In Entry Of Institutional Investors
Organizations have been conducting technical analyses of the cryptocurrency market to evaluate its viability.
Since the analysis has favored crypto, many institutional investors are now interested to bet big on cryptocurrencies.
They believe cryptocurrency has tremendous untapped potential. But the only problem is the involved price volatility and profit potential.
Besides these two points, what worries institutional investors are the security issues.
In recent years, some notable organizations have lost millions to hackers. Hence, the broader acceptance of cryptocurrency is necessitated by the adoption of stringent security measures.
According to some analysts, such steps can reduce the probable losses. And once these security steps are taken, more institutions will feel comfortable joining the cryptocurrency bandwagon.
Although there is a long road ahead, you can expect a massive spike in the number of institutional investors in the coming years.
Should You Invest In Cryptocurrency?
If you’re a seasoned investor who likes to invest for the long-term, investment in cryptocurrencies can turn out to be a lucrative decision.
Trends keep changing in the cryptocurrency space, but there are certain aspects that are sure to change in a certain way in the coming decade.
Having enough knowledge of these changes can help you make more informed decisions.
However, not all cryptocurrencies are worth investing in. Whether you make profits or incur losses will solely depend on your choice and timing of purchasing cryptocurrencies.
But the more cautious and well-informed you remain while investing, the better results you’ll get.
