Despite 2017 being a great year for Bitcoin, there are fears that this could come crashing down this year.
The crypto game has changed significantly in just nine years, which has caused them to become a global phenomenon. It isn’t just investors either, corporations and governments are hiring blockchain experts to enable them to incorporate this new technology into their existing businesses.
The reason that the popularity is growing so much, is because it is so much more readily available than it was a few years ago. There are certain apps and companies that make buying and selling virtual currencies, and specifically Bitcoin far easier. You can buy your Bitcoin from the comfort of your own home, or out and about on your phone. They are available to buy 24/7.
There are approximately 30 million Bitcoin wallets open across the world; but out of those 30 million wallets, only 3 million of them contain more than $1,000 in Bitcoin, and only 1 million contain more than $10,000 in Bitcoin. So, when you consider that the total market capital of $800 billion is just 0.3 percent of the total assets, there is plenty of room for this to grow.
Until now, Main Street investors have just been watching quietly from the sidelines, but they are now starting to get involved in a bigger way. Both the Chicago Mercantile Exchange and the Chicago Board Options Exchange launched Bitcoin futures late last year, and Goldman Sachs is launching an institutional crypto trading desk.
So, it is fair to say that cryptocurrencies are most definitely mainstream. So what does this mean for 2018? Well the barriers are well and truly down, and people are seeing far more potential, so although Bitcoin might have more competition than before, it shouldn’t be going anywhere just yet.
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