Most recently, the Guardian posted an article that cryptocurrency giant Bitcoin suffered significant losses for the past few weeks due to security breaches particularly hacking despite having to recover for a period of relative stability.
Last year, Bitcoin, which was touted to be the future of currency encountered a large-scale hacking at its South Korean exchange and a new study from financial experts suggested that last year’s achievements were orchestrated by the people behind cryptocurrency which resulted to its all-time low of below $7,000, in seven months in the financial market scene.
Bitcoin’s price had a roller coaster ride in 2017 after its issues emerged where it recorded an all-time high of $19,850 or £14,214 despite encountering fluctuating situations in the financial market like dropping drastically but manages to recover immediately.
However, earlier this year, its price stabilized as the central banks and the government are both acting by implementing a regulation to cryptocurrency.
With the setbacks encountered by bitcoin and the impending regulation of cryptocurrency to be implemented by the government, its remarkably surprising that the cryptocurrency industry’s investors have already foresee a brighter future ahead.
The cryptocurrency trading platform in roughly less than a decade has made its presence felt in the financial market and it surprises everyone involved in the financial market after gaining huge popularity for young investors and startups with the hopes of bringing more convenience in financial matters despite the fact that the adoption of cryptocurrency and its utilization of a new security technology, the blockchain process have faced several challenges after it was first introduced to the world a couple of years ago.
One particular setback was the cryptocurrency industry’s giant Bitcoin after its transaction and payment system was described by its patrons and users to be slow in processing, but its investors believe that it was just birth pains and there’s always room for improvement in their current platform and what makes the investors of cryptocurrency hopeful is their belief of a brighter future. They firmly believe the current cryptocurrency industry is in the phase of development.
They claim that the blockchain and cryptocurrency industry in the present day is still a work in progress and compared what Bitcoin and other cryptocurrency brand Trademaster were ten years ago.
Cryptocurrency Significance
Cryptocurrency investors projected that the industry will be receiving more patronage not just from small and medium enterprises, rookie investors but the real deal, the institutional investors in the near future considering that it already caught the attention of the government by implementing a regulation for cryptocurrencies. This current situation between the cryptocurrency industry and government ironically gave its investors a comfortable feeling to pour more money to it with the hopes of expanding the industry to a larger scale in the financial market. The regulation according to its investors is foreseen to be give them a safer and healthier environment to them knowing that the government is involved so there’s a certainty of sustainability in the industry.
Growth of cryptocurrency
However, financial experts suggest that the growth of cryptocurrency in the coming years will be gradual and not rapid due to the government’s regulation and also, financial institutions are expected to be intricate about it but it will, for sure attract more of these watchful eyes to start investing in cryptocurrency in no time.
The cryptocurrency industry will also remain volatile due to many factors including intrinsic value of its stocks, minimum capital from financial institutions and the implementation of the regulation.
