The history of any new discovery or invention is filled with disapproval and criticism but in the end, they all rise to the occasion and change the world. After the popularity of the tech is increased, industries and businesses want to get hold of them and this is the same case with cryptocurrencies.
The story of cryptocurrency started with the introduction of Bitcoin, the prodigy coin. The technology that governed Bitcoin was revolutionary and it was well received after people understood it’s potential. Bitcoin faced a lot of criticism regarding the system load and security which was later proven baseless. After the success of Bitcoin, there were thousands of cryptocurrencies in the market. Every cryptocurrency was different than the other one which was the result of different Blockchain governing the cryptocurrencies. Gradually the cryptocurrency became a multi-billion dollar industry. Bitcoin became the face of the cryptocurrency and even the number one cryptocurrency to ever exist. The current market capital of Bitcoin is around $115 billion USD that has got many economists thinking the future application of cryptocurrencies.
Can cryptocurrency become the future of currencies? Are cryptocurrencies a mainstream asset that can be fruitful in the future? These questions are valid since the cryptocurrency gained their success in just a short period of time. Here are some data that can set the matters straight for you regarding cryptocurrency as your long-term mainstream asset.
Comparison with other long-term investment assets
There are many other mainstream assets that are accepted by the people and are invested in. There are precious metals and stones that are currently the favourite mainstream asset of investors. These precious stones and metals are a great source of investment since the price can double and you can get a good resell value when you sell it.
This is the same deal with cryptocurrencies, where the market of cryptocurrency is growing rapidly. You can also get a great resell value when you sell or even use the cryptocurrency that you own. Cryptocurrencies is an industry where people are investing at a phenomenal rate that has boosted the market of the cryptocurrency which suggests cryptocurrencies as a long-term mainstream asset. Hence it is beneficial for the investors to invest in cryptocurrency for future profit.
Market behaviour of cryptocurrencies
The cryptocurrencies are a great source of income for many investors who actually know what to do with them. The market of cryptocurrencies fluctuates as they introduce new technologies to the users. The users tend to go for the cryptocurrency that is advanced technologically, this result in changes in the trading volume of cryptocurrencies. As long as the cryptocurrencies keep introducing these new technologies, we will see many fluctuations in the market.
Unlike other mainstream assets, the cryptocurrencies don’t tie you down to just one entity. For example, if you buy a certain weight of silver (which is also a long-term mainstream asset) it is a hard process to exchange it for gold. On the other hand, exchanging cryptocurrencies for other more fruitful cryptocurrencies is much easier. For example, there are many online Bitcoin exchange platforms in which you can exchange other cryptocurrencies for Bitcoin and vice versa.
The cryptocurrencies are on the verge of reaching the point where it will be ultimately accepted by all just like all the great inventions and discoveries. The above-mentioned data suggests that the cryptocurrencies can be a great long-term mainstream asset in the future. Therefore, it is wise to stack up now and enjoy your investments in the future. Hence it is the signature of a mature and successful investor.
This is a guest post/opinion piece and should not be construed as financial advice.