Prospects of Cryptocurrency for 5 Years
The rapid development and increased value of cryptocurrency has literally captured the world. The current bitcoin value growth has made many people pay their attention to virtual earnings.
Future of Cryptocurrency
Already now many countries are buying cryptocurrency. They are legalized not in all countries but this is inevitable. The rapid growth over the past few years made even skeptics take bitcoin seriously. In those countries, that are quite loyal about Cryptocurrency, its development is much more rapid. This forces other countries to legalize it too not to be behind in promoting virtual money.
Now the following market trends can be highlighted:
- dynamic development;
- coverage of new areas;
- rapid exchange growth.
It is obvious that cryptocurrency has a broad potential. For instance, now leading financial institutions are estimating the global market in $160 million. In comparison, the similar indicator of cryptocurrency is $5 trillion. So, its opportunity to develop exists.
Setbacks to Development and Promotion
As cryptocurrency is a relatively new phenomenon, many experts are quite skeptical about it. So, you can imagine the usual users’ attitude. Many of them do not believe in bitcoin and think that it is a soap bubble. Uncertainty and doubts are still restraining the exchange growth.
On the other hand, its rapid growth would also lead to unprecedented boom and imminent drop. Now the technology is developing quickly but incrementally. We can say that the coming years will see such dynamic development but the exchange growth can slow down a little.
Much will depend on the development of the IT industry. In the globalized world cryptocurrency can become a new alternative to the established order.