If you look around, cryptocurrency is dominating the marketplace and the financial landscape. It’s impossible to ignore, so we might as well join in and invest our own money to hop on the hype train.
Because crypto isn’t going anywhere… right? The future of cryptocurrency is looking a lot like the stock market, or like a freeing decentralized currency (depending on which day you read the headlines).
Let’s take a look at how fast crypto has come, and how far it still has to go before it’s as mainstream as everyone assumes it will be. The future of cryptocurrencies are looking bright.
Cryptocurrency Regulation & What it Means for the Future
The future of Bitcoin is perhaps the most looked-at aspect of cryptocurrency’s longevity. Bitcoin is the flagship of crypto, meaning that when it falls, we’ve seen investing in cryptocurrency stall or go on the downturn.
But is that the only measure of success? What if another coin took Bitcoins spot? While that’s not likely, it can still happen. So how do we know if the future's looking bright?
Regulation. It’s an ugly word, but it comes with its pros and cons. The entire point of Bitcoin and cryptocurrency in general is to be a decentralized currency that doesn’t rely on one singular currency’s value to determine its own.
But things get complicated when you use a regulated currency to buy an unregulated currency, so we have to meet in the middle somewhere.
Bitcoin and cryptocurrency has undergone some regulation, which means that while it seems less “freeing” than many people want it to be, it’s actually being valued and accepted as an investment asset.
As more countries regulate how Bitcoin and cryptocurrency affects their markets, it’s being ingrained as a currency in it’s own right.
The more regulation, the more acceptance, and the more stability cryptocurrency will have. Because the currency in and of itself is still decentralized, regulation isn’t going to ruin its value.
It’s going to make cryptocurrency more attractive to conservative investors with old money, which will drive the price up.
Cryptocurrency is Being More Widely Accepted Everywhere
It’s not just being accepted by governments, but it’s actually being integrated as a payment option. While some minor companies have been accepting Bitcoin for a while, such as Starbucks, others are getting on the bandwagon and allowing it as a form of legal tender.
You can even buy video games in the Xbox store, or purchase home renovation products from Home Depot. The possibilities are growing, and this type of growth is exponential.
As many large institutions begin to put their trust in the cryptocurrency future we’re all living in, those who watch them closely will follow suit.
It’s important to stay up-to-date on cryptocurrency news, especially with nations like Russia and China hitting the headlines fairly frequently in their efforts to reform or ban it.
Bitcoin ETFs Will Soon Be Available
If you needed any more convincing, Bitcoin ETFs are about to become available on the New York Stock Exchange as early as October of 2022.
It’s important to note that other cryptocurrencies have been trying to become ETFs for years now, but until recently, the SEC hadn’t approved any ETFs until BITO.
This is Bitcoin’s ETF that will impact the market as the first cryptocurrency to become something greater than a coin, and we don’t know how it will actually affect everything.
Crypto ETFs sound odd, but what they do is open up these investments into more traditional institutions, and continue to drive the point home that crypto is here to stay.
This will help convince more conservative investors and companies, and overall cryptocurrency will grow. A crypto ETF will still be as volatile as any standard crypto asset, it’s just in a different form.
While they’re not as stable as stocks, crypto ETFs could pose an interesting way to twist your portfolio and diversify it just a bit more.
Is There a Future for Crypto?
Absolutely. At the time of writing this article, we’re currently seeing a dip in Bitcoin, Ethereum, and the total cryptocurrency marketplace. However, that’s not necessarily a bad thing.
Investors want to experience growth. That’s pretty obvious. What many new investors don’t realize is that with the rise comes the fall, but any dwindling periods in the market, whether it’s crypto or traditional stocks, does not spell disaster.
There will always be changes, sell-offs, and black mark days for crypto just like there is and will be with stocks. Right now, we’re seeing some countries poise to ban crypto mining, which would be a slight hit to the future of crypto.
But more countries are in favor of incorporating cryptocurrency than they are opposed to it. In short, it’s being accepted by more and more institutions, countries, and individuals on a daily basis than any other investment type we’ve seen.
There’s a future for crypto, and we’re at the forefront of it right now.
Should You Invest in Crypto?
Cryptocurrency is young, but it’s promising. Whether you just want to hedge against inflation, or you want to find your fortune in a new uncharted territory, cryptocurrency shows no signs of slowing down to a halt anytime soon.
It’s not a new concept anymore; it’s been around for over a decade, and we’re just seeing more and more implementation into our daily lives.
Understand that crypto is volatile in its own right because it is decentralized, but that doesn’t mean it’s unsafe. In fact, we urge anyone looking to invest in their future and retirement to consider a cryptocurrency or Bitcoin IRA to help build their wealth.
Far from it. In fact, cryptocurrency is being accepted in more countries and by more companies year after year, further legitimizing the practice and investment type.
Crypto is also becoming more popular among individual investors as a means of protecting their retirement with an IRA, or as short-term medium-risk investments. Crypto is very much alive.
It was. It still poses risk, but if you pay attention to cryptocurrency-related news, you’ll find that it’s become a much more trustworthy form of tender and investing around the world.
More and more countries are making cryptocurrency legal tender, which just goes to show that it’s not going anywhere even when and if it has its highs and lows.
As it gains legitimacy and popularity around the globe, the risk of cryptocurrency as an idea will decrease, but this doesn’t go for individual coins and assets. Those are subject to far more than we can explain here in a single paragraph.
Cryptocurrency is volatile. It’s untested, lacks longevity and accompanying data, and while it is regulated, it’s fluid on a global scale.
That level of uncertainty will impact any financial decision, and it’s not just bias—there’s a reason to worry about the fluid state of cryptocurrency, but as it currently stands, it’s favored and invested in by millions of people.
There’s emotional value in it, just like there is with stocks, gold, and other investment types (especially gems). They can be a good investment, but when a lot of people jump ship, the emotional value tanks and others opt out.
Cryptocurrency isn’t perfect, but it’s definitely here for the long haul.
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