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“The volatile nature of crypto has not slowed its growth, which has been dubbed ‘mind-blowing‘” — Paul Ebeling
The Crypto markets continue to grow despite the VirusCasedemic and governments trying to destroy them.
Cryptocurrencies were seen as magic internet money. This attitude toward crypto has been in place for a longer period than the attitude that they are lucrative investment vehicles. Born out of chaos and disdain for the heavily manipulated financial world, Bitcoin and distributed ledger technology (DLT) is seeking to change the way the cogs turn in the financial world.
The Big Q: How are crypto markets managing to persistently outperform the global financial markets, despite a global VirusCasedemic?
Millions of people were furloughed, made redundant and dead. Oddly enough this landscape perfect for an emerging financial system destined to revolutionize the world. and now the best time to join the blockchain movement as companies refine their best practices.
The Big A: Evolution and Adaptation.
More has happened since Y 2017 than in the rest of the history of the industry. We have seen 2nd-generation blockchains go from ideas to fully functioning networks. We have seen 3rd-generation blockchains launch and go live. All of this is built on the rich foundation and slow evolution that Bitcoin and the cryptocurrency world has gone through.
This goes to show that Bitcoin and other cryptocurrencies aren’t just a fad. Instead, it’s technology steeped in history, and it’s gone through a huge evolution, just like the planet has. Bitcoin and other cryptocurrencies are no longer only good for use on the dark web.
Cryptocurrencies have just as much utility as USD, GBP, JPY or EUR. Services have evolved that allow us to store our cryptocurrencies in wallets and spend them at any merchant in the world using a debit card. This period of evolution has enabled cryptocurrencies to merge with the existing financial networks, improving them at every turn.
The fact that you can now send money anywhere on the globe in a matter of secs for a fee that’s a fraction of a cent is incredible.
Before blockchain, this would take days and cost you a small fortune. The world of DeFi is here, and it’s allowing people to take out loans that they can afford with the click of a button. No longer do you have to apply and wait 6 months only to get rejected because the bank thinks you are too risky. Financial freedom is here, it is thanks to Bitcoin.
Virtually all of the biggest and best companies in each industry are now all using cryptocurrency and blockchain in some part of their business model.
Cryptocurrencies have more purpose and utility than ever before, so it’s not shocking in the slightest that this burgeoning industry is still growing.
In fact, the global VirusCasedemic has actually been beneficial for Bitcoin, cryptocurrency, blockchain and DLT. It has given people more time to learn and get educated on the subject of this emerging technology and its potential. We’ve also seen governments and private companies turn to blockchain technology to power vaccine certificate authentication. All of this is unprecedented.
This raised awareness and use for cryptocurrency increases the demand for it.
Anyone that studied high school economics can tell you that increased demand means reduced supply, which leads to an increase in price. So, the fact that we are now in the longest Bull run in cryptocurrency history is not surprising in the least. It stands to reason that this is the new norm, and the more that companies integrate with cryptocurrency, the higher the prices will go.
As education about cryptocurrency increases, fewer people will retain the herd mentality when it comes to investing. This will then reduce the negative impact that these pump and dump groups have over the wider user base of crypto.
This is without a doubt the best time for companies and services to begin their move into the crypto world. Bitcoin and cryptocurrency finally give people control of their own money.
Cryptocurrency is the future, and as it continues to evolve, we’re going to see its adoption skyrocket. Now we are at the tip of the iceberg. The future of blockchain and cryptocurrency is going to be incredible. It is going to change everything. Businesses that continue to fight it and resist will end up vanishing, while those that adapt will thrive in this new phase of human existence.
Soon we will see 4th-generation blockchains that are faster, cheaper, more eco-friendly and can do so much more than we can currently imagine to be possible. Adapt to it, do not fight it!
Have a prosperous day, Keep the Faith!