In recent years, the popularity of cryptocurrency has increased around the world. It does not seem like this is going to come to a halt anytime soon. Every day, there is always a new headline regarding it. People from all walks of life are reaping the many benefits it provides. A lot of economic experts have referred to it as the wave of the future. Numerous major banks are supporting it. “We have always believed in the potential of blockchain technology and we are supportive of cryptocurrencies as long as they are properly controlled and regulated,” said JPMorgan CEO, Jamie Dimon.
There have been questions about the regulation of cryptocurrencies, hence why governments from different countries have engaged in them in order to establish order. So far, everything appears to be moving in an orderly pace; nonetheless cryptocurrencies go hand in hand with technology; thus, continuous analysis of them is vital.
Popularity of Bitcoin
The potential of cryptocurrency keeps rising every day. There are a variety of different cryptocurrencies available, Bitcoin being the most popular one. Even so, there are others catching up, including Bitcoin and Ethereum, hence why different online ecommerce platforms that are currently accepting Bitcoin as a payment method are considering the integration of other cryptocurrencies, including the e-commerce giant Overstock.
Even so, it is important to highlight that Bitcoin has its down moments just as any other type of currency. “I do not think people should be surprised if that happens, but doesn’t really change the historical outlook or the long term outlook,” said the founder of Morgan Creek Digital Assets, Anthony Pompliano. Regarding its price movement, Pompliano went on to express “We tend to think that the work done today is going to lay the groundwork for the price movements moving forward over the next two to three years.”
Peer-to-Peer Bitcoin Trading in African Economies
Lately, there has been peer-to-peer Bitcoin trading to bootstrap African economies. Out of all the generations in Africa, millennials are the ones who are currently driving cryptocurrency adoption. The chief executive officer of Paxful, Ray Youseff said “The adoption of Bitcoin across the globe reaffirms our belief that crypto will take an important position as a mainstream financial system in African countries.” He continued saying that this has been the case for other financial tech innovations, such as mobile money. According to him, Africa is leading the peer-to-peer financial revolution.
Cryptocurrencies Are Becoming the Go-to Option in Society
Bottom line is that cryptocurrencies in general keep garnering the attention from both the media and public alike. There are more financial companies taking them into account to integrate them into a variety of different services they offer to the public. Their transition from unknown to mainstream has occurred rather quickly. Cryptocurrency has become the go-to option for millions of people around the globe, and everything indicates that it will become the favorite for most people in the near future. It is safe to conclude that cryptocurrencies are here to stay.