No matter where you look, nowadays people are talking about cryptocurrencies all the time, some say that they hold the future and that investing is a very smart idea. Well, just how smart of an idea is it really to invest in something that most of you didn’t even know existed 2 years ago. The past year has been a very successful year for every cryptocurrency investor and miner because the prices of all currencies have increased significantly. A lot of people who invested right at the start and didn’t sell up until recently have become millionaires because the difference in price was so drastic, especially for Bitcoin investors.
However, Bitcoin is just one of the many cryptocurrencies that are available now, but people seem to know Bitcoin the most because everyone keeps talking about it. The main reason why everyone is talking about this particular currency is that the price of only 1 has reached a crazy amount of almost $20.000 in December of 2017. So, people who did invest right at the start even just a $100 are now millionaires thanks to Bitcoin. Of course, not everyone was so lucky, there were people who sold it when the price was $2.000 thinking they made a huge profit. Here is what the future of cryptocurrencies might hold for us.
One of the things that every cryptocurrency investor is hoping for is that it becomes a regular way to pay for things. Of course, there are various locations and stores that offer the option of paying in cryptocurrencies such as Bitcoin, but there are still not enough of those places. What people are hoping for is that cryptocurrencies will be accepted all around the world as a legal way to buy things. there are some countries that don’t allow any type of cryptocurrencies and for people living there, it is a very bad thing because if they want to start investing or mining, they will be doing it illegally. The main reason why it is illegal in some countries is that people fear of it, they cannot control it and put their hands on it, so they rather not deal with it at all. We surely hope so that the situation will change in the future and that you will be able to buy anything that you want with any cryptocurrency.
If you take a look at any of the cryptocurrencies, you will see one thing that they all have in common and that is they are not stable. What we mean by this is that the price of them is changing quite rapidly. It cannot be compared to $ or £ because of the changes much more drastic. We can hope that in the future that will slowly stabilize. Of course, for people who invested, they would want to see drastic increases in the price because that will mean they made a huge profit. So, this stability can be both a good and a bad thing, depending on your standing point.