Cryptocurrency can be a bit of a roller coaster. One day your investment is stagnating and the next you can’t believe how much your Luno Bitcoin Wallet is holding. The reasons for cryptocurrency, and in particular Bitcoin, have exponential increases in value are not clear to even the experts. In all likeliness, there is a myriad of factors that contribute to the worth of cryptocurrency – as well as interest in it.
Nevertheless, there are moments that are more likely to help crypto boom again, and even take Bitcoin back to the days of December 2017 when it soared to a market value of around $20,000. Read on to discover what could make crypto boom in interest and value once more.
1. Bitcoin Accepting Retailers
The number of businesses already accepting Bitcoin and other cryptocurrencies is growing. Names like Microsoft, KFC, Subway and many more household names are already on board. Yet, there appear to be more companies setting up and exclusively using crypto as payment rather than it being added to existing companies. When bigger established brands start welcoming crypto payments, it incentivizes and exposes the general public to use crypto and will ultimately help it grow.
Regulating crypto is a heated topic of debate when deciphering what it will do for the industry. Some believe that tightening regulations on crypto companies will make it more difficult to operate. This has already been seen in Germany where enforcing strict regulations resulted in Bitpay stopping trading in the country (and with German businesses).
However, it should also be noted that when regulations come into force, they on the whole make it more trustworthy and help it become an established part of its respective industry. With regulations and governing bodies, more consumers are likely to be interested in crypto products and using them.
3. Lightning Networks
The investing scene is a fast-paced and frantic environment, and even the crypto world is not able to keep up at times. That is until more lightning networks are used. With these networks, investors in crypto will be able to trade crypto and fiat currencies quicker and more importantly, without additional fees. Once these become the norm it is likely that more investors will take notice of crypto and give it a second glance.
Today, most people have heard of crypto buzz words but do not truly understand them. As a matter of fact, financial education could be argued to be lacking across educational institutes. Crypto even more so and if it was possible to educate the youngest academics on the subject, their own generation of innovation and ideas could take the crypto world up a gear.
Many experts working in the industry believe crypto is due another bullish year with possible market increases to the ones we saw in 2017. Will 2020 be crypto’s biggest year yet?