Entrepreneurs have all experienced the transformation that cryptocurrency has brought about in the business world. Businessmen who had followed cryptocurrency from its inception to the present is well aware of the complete evolution, and transformation that this financial idea has brought to the business world. While we know what cryptocurrency means in the present world, the changing relation of the same with the business world makes every entrepreneur wonder what the future of cryptocurrency be in the market. It is possible to make out what the future of cryptocurrency in the future of the business world because there are some trends that are closely followed by the phenomena. The way it has gained in popularity, the way the gathered popularity brought about the scepticism regarding dealing with the cryptocurrency and the new rules on evolving the same that has emerged ever since its inception has shown that the future of cryptocurrency can be predicted. Love it or hate it cryptocurrency is here to stay.
The digital cryptocurrency is definitely not the ideal financial transaction that entrepreneurs would look at, but still many people especially people in directly involved in the cryptocurrency world believe that cryptocurrency has a bright future.
To give an example, Kevin Murcko who is the CEO of CoinMetro says that “The cryptocurrency and blockchain industries are works in progress. Look at Bitcoin, for example; it’s not the way it was almost a decade ago. Aside from the change in value, it’s operating in different terrains. It’s receiving more feedback in terms of problems that provide areas for growth, development and innovation.”
It is true that cryptocurrency had its own fair share of going into popularity and facing extreme scepticism, but if one is intelligent enough and has a financial sense of how things work in the business world one can easily make out what the future of cryptocurrency. Here are some intelligent guesses that would give ‘you’ – the ambitious entrepreneur – a peek into what the future of cryptocurrency would look like and how you can evolve your business to suit the changes.
- The Institutional Investors would Patronise Cryptocurrencies in the Future:
There are a lot of governments that are looking at regulating cryptocurrencies. This has made it possible for entrepreneurs and investors alike to put their funds in them. The regulation that are going to be used on cryptocurrencies will make it easier for entrepreneurs to leave their anxiety concerns away regarding an investment in cryptocurrency. The December of 2017 saw bitcoin reaching a record high. Following this the investor Tim Draper has also said that Bitcoin would achieve a value of $250,000 per coin in the future.
It is natural that the increase in investors investing in the Cryptocurrency market would take time. The reason is that there are many others who are actually looking at the way the cryptocurrency market is going. The introduction of regulations in the cryptocurrency market will make those sceptical investors start on their investment in cryptocurrencies.
- Cryptocurrency Regulation will move from being an Idea to a Need:
Looking at the idea of regulation that governments are thinking of, this still seems to be a far distant idea that needs implementation. But the future will see a cryptocurrency market that is completely regulated. The need of regulation has come up because the lack of security has been the biggest concern for traders. Even though people were eager to join the Cryptocurrency bandwagon they hesitated because of the lack of security.
It is needless to say that hackers and cyber criminals have already taken advantage of this ad have made the cryptocurrency market unsafe for investors.
The need to regulate the cryptocurrency market is best quoted by Ahmed Khawanky who says that, “When you try to push something new to the market there’s a need to win the trust of the people. People won’t trust something they don’t know or like. Therefore, ensuring security is the heart of the overall success of the block chain technology.”
- Cryptocurrencies will stay as volatile as it always has been:
People everywhere are trying to keep the Cryptocurrency market stable. But the factors that characterise cryptocurrency like,
- Lack of Intrinsic Value
- Lack of Institutional Capital
- Implementation of Regulations
Keep the cryptocurrency market from becoming stable. It is possible that the regulation of cryptocurrencies will work to lower the volatility of the market but there needs to be a lot to be done to completely do away with its changing nature.
The world of cryptocurrency will change surely and for the better in the future. Investors and entrepreneurs who are thinking of doing away with anything related to Cryptocurrencies must rethink about how an investment in the same would bring those profits. Cryptocurrencies are not something that they should do away with yet. There is a possibility that the future of the business world runs on cryptocurrency only. As said by many people the cryptocurrency market is a work in progress. But it is a work in progress and it will evolve further to suit the needs of the people in the business world. Entrepreneurs who are looking at investing in the cryptocurrency market can be sure that their investments will be in safe hands. For those who are sceptical can be sure to have a cryptocurrency future that would suit their expectations.