Cryptocurrency and the Bitcoin industry have set the world of economics and finance ablaze ever since it was introduced in 2008. It has seen sun and shade. It has experienced monumental growth as well as suffered huge losses in its value. But, the most important factor is that, amidst all the apprehensions, downfall and unpopularity, cryptocurrency has made a comeback like no one else’s business. It has maintained its growth, steadily and in leaps and bounds. However, in spite of Bitcoin recovering from all its losses and achieving new levels of success every other day, only a handful of investors truly want to put all their eggs in its basket. But, if people were to try the potential of Bitcoin, they would be surprised to see what it has to offer. The more people decide to place their good faith in the Bitcoin industry, the more will its value touch the zenith and enable it to branch out in several other domains where cryptocurrency could be a matter of relevance.
With this article, we attempt at looking into the possibilities of 2020 becoming the year of institutionalized Bitcoin investments. We shall factor in several dimensions and then see if our hypothesis has much meat to it.
Libra- The Apparent Game Changer:
If you have been dealing with the domain of cryptocurrencies, there is absolutely no chance of you missing out on the hottest topic on the block. We are talking about Libra, Facebook’s very own cryptocurrency. With Facebook taking up the mantle to further the field of cryptocurrency, very little remains to be spelt out about the potential of this form of digital currency. Also, with Facebook joining in the movement, it is perhaps safe to assume that other business enterprises shall also make a move soon enough. And, speculators are of the opinion that the year 2020 could be it. It might do you well to follow the link https://www.forex.academy to find some more exciting pieces of information on cryptocurrency and blockchain technology.
A More Decentralized Year:
The main attraction of cryptocurrency lies in the fact that it has a decentralized approach to it. There is no central authoritative figure controlling or overseeing its functioning. Now, this might not sound as safe as the other conventional forms of banking. But, rest assured that cryptocurrency and its underpinning blockchain technology is as secure as it can get. With a decentralized approach at its behest, the liberty and ease of transactions have become extremely easy. Therefore, as we continue moving towards another year, a complete decentralized approach to cryptocurrency should not strike you as something new. More and more investors shall take to this form of digital currency in the upcoming year.
Market Dominance Is Not A Far-Fetched Idea:
Given the popularity that cryptocurrency has started enjoying, and the heights it is charting with every passing day, it shall be no wonder if it takes over the entire financial market. Market dominance does not seem like a far-fetched idea in 2020 because cryptocurrencies have been attracting investors from the mainstream. Bitcoin shows the potential of having the largest market cap, but this does not ensure it dominating the market. The dominance that we are talking about is by other cryptocurrencies, especially Facebook’s Libra. At a point as such, it is no longer a matter of ‘if’ cryptocurrency shall take over the world financial market, instead ‘when’ it would do so. And in all sense, 2020 looks pretty promising.
A Global Financial Crisis Could Be A Boon In Disguise For Bitcoin:
When the traditional form of money suffers a setback and leads to the world spiralling towards a global financial crisis, the popularity of cryptocurrency shall skyrocket. People would lean more towards a crypto-based financial market, and the one currency that is sure to absorb most of the value is Bitcoin. It is not to insinuate that we are moving towards another global financial crisis after 2008. But, markets are a volatile area, and the future remains unpredictable. Therefore, if it were to crash at any point of time in the near future, cryptocurrency could gain massively from it.
Conclusion:
2020, on the whole, looks extremely promising for the growth of cryptocurrency. However, one cannot say for sure that only good things are kept in store for it in the upcoming year. We can only predict and hope for the best. The reality shall unfurl when we step into the new year and see the digital form of money in action.
