Market Outlook

Cryptocurrencies have continued to prove their worth in the past few years, especially Bitcoin who boast to be having about 14 million in circulation at the moment. However, a good number of investors have proved hard to convince and have been voicing their doubts about the future of this new technology.

Bitcoin’s prices have been highly unpredictable and it has taken a while for them to create a stable market environment. This has greatly affected cryptocurrencies’ presence in the market. Investors who have gone against the odds and put their fortunes in cryptocurrencies tend to rely on the so called “inherent value”, which includes the network and technology itself, the localized network and the ethics of the involved codes.

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Market Development Keys

• Merchants & Consumers

Cryptocurrencies have been seductive to consumers in that they offer faster and cheaper payment options compared to the other money services. What makes it even better; consumers do not need to provide a full list of personal information to do any transactions.

However, as cryptocurrencies continue to create a mark in the financial world as a payment option, a good number of consumers prefer to trade them rather than use them to pay for goods and services. This is mostly due to the instability that their prices have shown in recent times.

From the merchant’s perspective, cryptocurrencies have come has a gift in a way. They come with a number of benefits inform of low transactional fees and the advantage of nearly instantaneous settlement.

• Technology Developers

A good number of talented technology developers have put most of their efforts on trying to find new ways to reap the benefits of cryptocurrency. However, some of them have diverted their entrepreneurial quests to other ventures such as wallet services, alternative cryptocurrencies and developing exchanges. Apparently, the cryptocurrency industry has just begun to attract raw talent that has got the focus and determination to move the industry to a higher level.

However, the stakeholders in the cryptocurrency industry still need to do a lot of convincing as far as corporations and consumers are concerned. They need to convince the consumers and corporations that cryptocurrency is a user-friendly solution to their transactions. They also have to assure users of their fortune’s safety from cyber attacks.

• Investors

Cryptocurrencies have eventually managed to capture the attention of a good number of investors. The “inherent value” has given the investors confidence and a good reason to be optimistic. The cryptocurrency companies have only recently managed to attract the attention of the stock market and institutional investors.

• Financial Institutions

A while back, banks were the main connection between people with money and people who need it. However, things have changed in recent times thanks to internet banking and the ever evolving banking sector.

• Regulators
Cryptocurrencies have attracted a mixture of reactions from financial regulators all over the world. This is mainly because the regulations keep changing depending on the region and there are some that favor the cryptocurrency industry while others simply don’t.

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Editor’s Pick of 5 Hottest Cryptocurrency Topics

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