Understand Where The Cryptocurrency Industry Is Headed To

Learn about the advancements in the crypto world. There is a lot of info you may want about the industry

The Situation In The Cryptocurrency Industry

It isn’t necessary to look no further than Bitcoin to get a sense of just how troubling the year has been for the cryptocurrency industry as the Bitcoin traded for close to $ 13,500 after reaching an all-time high of $ 19,783.06 as the Bitcoin is selling at $ 3,400 with a loss of about three-quarters of its value as other digital currencies aren’t faring much better. For example, Ethereum fell from an early high of $ 1,300 to $ 91.

It has been seen that cryptocurrencies like the Bitcoin and Ethereum come as hurting on more fronts than value alone with investor interest in digital currencies has waned dramatically in recent months. The fact is that thereby many of the early investors were eager to make the gains from the cryptocurrency craze has since moved on to other ventures leaving a smaller group of stalwart HODLers behind. Here there are reasons to still believe that the cryptocurrency industry has some fight in it left. Therefore by some measures, the institutional interest in digital currencies has increased as investors asked how high digital coins could fly. Whereas the better question could be how this space will adapt over time to survive.

How Do The Institutional Investors Get In The Game?

It is a fact that although trade figures for individual investors are down in many cases, these institutions are climbing on board in a significant way for the first time with institutional investors meaning that even if fewer trading partners are transacting in the digital currency space where the industry can still sustain itself. Thereby there are several potential developments projected to take place that could significantly impact institutional participation in the digital currency market. It is noted that if the crypto is floated in the NASDAQ or a similar exchange, it will immediately gain a boost in reputation and likely value. 

What About The Elusive Bitcoin ETF?

It has been known that crypto enthusiasts for years have pined for a digital currency ETF available to mainstream investors in the US, as the US Securities and Exchange Commission has been repeatedly rejected or thereby delayed Bitcoin ETF applications that are to be decided upon at a future date. Here one of the most talked-about funds by provider VanEck has seen its final approval decision pushed back. There are still some analysts believing that the approval of mainstream Bitcoin ETF is to provide a significant jolt to the digital currency world opening up the industry to those investors who are eager to participate without some of these risks associated with the buying and selling of tokens directly as of now though the future of VanEck’s fund remains to be seen.

How do Stablecoins Take the Lead?

The question is where the stable coins are digital tokens pegged to a fiat currency acting as hedging mechanisms against the potential decline of underlying cryptocurrency collateral prices as they may just be the industry’s best hope going on. These are the stable coin that may see growth next year for two reasons, as a result of the long term instability of non-centralized tokens, and two the current leader in the stable coin industry, tether is positioned to be dethroned. Thereby as one of the earliest stable coins reach the mainstream, tether had suffered several highly publicized growing pains while the sub-industry developed. It is here that other stable coins have already entered the field aiming to wrench away this dominance. 

Thereby Concluding On What Do We Know For Sure

In this context, it may be difficult to say that if any digital currencies will see dramatic price gains, then we say with confidence that cryptocurrency is not going away anytime soon. To remind you it is here that the blockchain and the underlying technology behind many of the cryptocurrencies have been spread far outside as of the digital currency industry and are likely to see new applications with governments and regulators continuing to grapple with how to best facilitate and control digital tokens.

To further state the heyday of cryptocurrencies may have come and gone as its also possible that the crypto market still has a lot of upsides to go. It is here that we do know one thing for sure that cryptocurrencies were once positioned to upend the entire financial system. Here the kind of noise doesn’t disappear overnight so expect to hear from cryptocurrency or at least its number one fans for another year. So we have more to hear from them and we are ready to take them on headfirst. We make it one of the best in the industry.  

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