The Future of Cryptocurrency

The advent of cryptocurrencies, blockchain technology and the legion of ICOs that have followed suit have elicited a haze of mixed reactions from both long-term investors and day trading speculators. There are just so many predictions revolving around digital wealth; to the extent of some being outrightly unrealistic and others bordering on sheer dubiousness. For keen investors caught in the dilemma of whether or not to take a plunge into the uncharted waters of cryptocurrencies investing, the following predictions about this new-found form of wealth could come in handy.

Here’s a quick primer to what the experts are saying about cryptocurrencies.

 

  1. Ethereum and Bitcoin Won’t Go Away Anytime Soon

“There is a very strong likelihood that Ether and BTC will still be in use and relevant five to ten years from today, ” says Balaji Srinivasan. Balaji was addressing a meeting of over 70 cryptocurrencies investing gurus who had met to analyze the staying power of a selection of popular digital currencies. As expected, among them was Ether and Bitcoin, both of which have exhibited an unprecedented bullish run in 2017. In other words, if there anything next to a safe bet in the crypto world, then holding onto Ethereum and Bitcoin for as long as it is financially possible is as close as it gets.

“Ethereum and the blockchain technology have a very promising infrastructural potential. Well, as for BTC, the coin may be a bit limited as far as commercial transaction goes, but it remains an excellent store of value,” says one Mike Cagney. He is the co-founder and CEO of SoFi, an upcoming personal finance, and technology company.

All in all, Ether and Bitcoin look like the best poised digital coins at the moment that can weather the inevitable economic ups-and-downs just around the corner.

 

  1. The Most Valuable Coins will be Those that Implement Blockchain Technology Best

Ethereum, Bitcoin, and Litecoin may look like the biggest players at the moment, but that does not necessarily mean that the potential of blockchain technology is exhausted. It won’t be surprising if other unknown coins ( as of now ) steal the show a few years or decades down the line. And here’s why; A digital coin that fills a particular niche by implementing blockchain technology is a logical and practical fashion will prove to be more valuable than the current collection of cryptocurrencies. As Peter Smith says. ‘There’s always room for more tokens and coins for as long as innovation exists.’

 

  1. ICOs Will Soon Give Wall Street and Silicon Valley Some Serious Competition

Nothing has made globalization easier and more feasible than the inception of blockchain technology. Soon, the days of the holders and hoarders of purse strings having the final say in innovation and entrepreneurship will be a thing of the past. Thanks to standardized digital currencies, we are now living in a world where one’s physical location matters less and what they have to offer matters more.

‘Several years ago you had to come all the way to Silicon Valley, walk up Sand Hill Road, network and seek funds from venture capitalists,” Balaji says. ” Now, Initial Coin Offerings have changed all that. An entrepreneur in Japan or India has as much chance of securing financial backing as one in Silicon Valley or Wall Street.”

 

  1. The Market Cap of Major Cryptocurrencies will be Worth More than USD$ 4 Trillion by 2020

 

At the time of writing this, the ‘market cap’ of Bitcoin and Ether was $167B and $45B respectively. Cumulatively, all cryptocurrencies are worth a little more than $300B. This is set to change soon. According to Vitalik Buterin, the co-founder of the Ethereum project, digital coins will be cumulatively worth more than a whopping 4 trillion USD by the time we usher in the third decade of the 21st Century.

“Look around,’ Buterin says, “For the very first time since the invention of BTC, it is now evident that digital-based wealth is here to stay. The sooner ones jump aboard, the better!”

 

  1. The Price of BTC Could Surpass $100,000 by 2027

According to Kay Van-Petersen, a financial analyst attached to Saxo Bank, Bitcoin is currently massively under-priced at $7,000 (now exceeding $9,000) per coin. How’s that? Well, factoring in that the current crop of cryptocurrencies have the potential to account for over 10% of all fiat currency trade by 2027, then one Bitcoin ought to be worth $100,000. The figure could be much higher when you throw in the fact that there are only 17 million bitcoins in the blockchain.

 

The bottom line? Buy and stack up crypto today!   

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