Cryptocurrencies are trending for a while now. The project that started more than a decade ago still hasn’t peaked, and more is expected. There isn’t a country in the world where Bitcoin and similar crypto aren’t already accepted as regular currencies.
While the ongoing coronavirus pandemic ruined many industries, the cryptocurrency world was left untouched, and even progressed more than ever. Due to the instability caused by COVID-19, many investors poured their assets into decentralized currencies that are BTC and others.
If you’re even remotely following the world of crypto you already know how much has it risen in recent months. But, as you also know, cryptocurrencies are highly volatile, and many people still doubt them and have little faith in a bright future.
But, no one can say what the future holds. What we’ll try to do is to carefully predict what does the future hold for Bitcoin investors. Bitcoin is still the most dominant crypto on the market in addition to being the oldest. Investors still have the most faith in the creation of Satoshi Nakamoto. Keep reading and take a look at our view on what could happen to crypto going forward.
This could be the first thing. Regulation. For a while now Bitcoin is completely safe and legal. But, despite this, it is not regulated by a higher authority. This idea has been floated around by lawmakers of various countries that have majority business involving BTC. The work on this is ongoing, but at the moment there’s no clear idea on how the matters will be handled.
The end goal is to make the world of cryptocurrencies even safer than it currently is. At the same time, lawmakers want to keep cybercriminals at bay. The absence of clear regulations bothers many investors, and those who are involved with BTC would love to see this resolved rather sooner than later.
While Europe and the US want to open their laws to crypto, China is fighting an uphill battle to make it illegal. The belief among those who know a thing or two bout cryptocurrencies is that proper regulation will make investors happy to keep working with crypto, rather than having it in the grey zone.
While the BTC is evolving every day, there’s a belief that the technology won’t be able to keep up with it, or at least that technological advancement is going to be needed. The worst part is that BTC will have issues attracting new users, those who are not too technologically advanced.
There are still people like that all over the world, and for them, BTC is a massive mystery. Using crypto as a payment method might be something hard to accept for this person, who is too accustomed to fiat currencies. But, despite them, some already encounter cryptocurrencies on every corner and have a desire to be more involved with them. The more people start using it, and with the steady growth which is expected, there will be more calls for regulations as we already stated above.
Furthermore, BTC can expect many challenges in the future. One of the primary ones is going to be the uphill battle to preserve users’ anonymity and at the same time to be fully and completely legal. It is hard not to see that there are individuals who are prepared to take advantage which come with Bitcoin. This cryptocurrency is often used to evade taxes or even cash laundering.
Besides, it is not uncommon to have your e-wallet under cyberattack, which can cause damages. At the moment, BTC is not 100% bulletproof. While dealing with all of these issues is possible, it might be hard to do it all in a short period, and still keep it understandable for the broader masses. While there are numerous benefits in dealing with crypto, some of these issues need sorting out, and the faster it’s done, the better for all of us who follow closely all the latest developments regarding Bitcoin.
People are quick to judge BTC for its shortcomings and praise it for its beneficial traits that are not yet fully explored. Most of us can only deal in speculation when it comes to cryptocurrencies, and this is not something new. As we said, they’re highly volatile, and making hard predictions is not easy. It changes each day, it’s getting more valuable, and people are flocking towards it. But due to its primary traits, we’re not sure what the future holds for BTC.
After all, ten years is not too much time, and there’s not enough knowledge on this crypto to be certain in predictions. There are various experts out there claiming this and that, but let us tell you, no one is completely sure. It’s hard to be when you look at the oscillations BTC has during one year, and how we can be sure what will happen in the next decade based on it? We can’t.
One thing remains sure when we talk about BTC. Investing in it can reap massive benefits. This is a fact. But, you need to be aware and accept the risks that come with it. You could also lose. Risk is real when it comes to cryptocurrencies. You could lose all in one go. Many people got rich with the latest BTC spike, but who can guarantee that it will not plummet in the coming months.
Everything can happen, and it is worth not ignoring the primary traits of this cryptocurrency. If you’re not prepared to lose everything you shouldn’t come close to any crypto. If you’re for safe and steady, dealing with some of the more conventional branches of investing might be the right thing for you.
As we said, the BTC is still on trial by the world’s biggest nations. If one of them, China, for example, bans it to the fullest, it could mean that its value is going down. Is this how you want to conduct your investments? If not, BTC and its future shouldn’t interest you. If you’re ready to proceed and make BTC your primary investment, maybe try and visit https://bitcoinsmarter.org/