Cryptocurrency has been the talk of the town for a long time, but now you can see its growth all over the world. People have shown an edge towards cryptocurrency and it’s traded worldwide using various platforms. Whether it is immediate edge biz or any other trading platform, the rise of cryptocurrency usage is prominent everywhere.
According to research, the worth of one bitcoin was around $10,000 last year even much more than gold. It is believed that the crypto market will continue to rise and the following are some of the vital reasons for it:
The Preference for Large Businesses:
Successful businessmen and large organizations play the role of trendsetters all over the world. When the public saw the positive reactions of large businesses to cryptocurrency, they started trusting it too. You may have come across the name ‘BYN Melon’ which exists since the 18th century. They showed enormous support for crypto. Another well-known personality of the business world and one of the richest men of the world, Elon Musk says that ‘Bitcoin is my new safe world.’
MasterCard also introduced bitcoin payments as they believe it will open more opportunities for the customers in terms of buying and selling. Similarly, PayPal, a worldwide money exchange platform, also announced its support for crypto. They introduced the opportunity for their customers to buy and sell bitcoins.
The increasing trend of using cryptocurrency in businesses is increasing its awareness. The reliance of these enterprises and businessmen on crypto will continue to play its part in the growth of crypto in future as well.
Rise of Inflation and Instability:
The economic market is not a stable one and it goes through natural ups and downs with time. However, the cryptocurrency market is more reliable and secure. Researchers have proved that people from countries that face high or constant inflation tend to shift towards immediateedge.biz.
A recent example of this would be the US where the dollar is facing depreciation and inflation is slowly prevailing through the country. Thus, a rise in the crypto market is observed in the US. Another country that contributed to the rise of the crypto market is Nigeria as its currency is also depreciating fast.
When the currency of an economy becomes unstable and volatile, people opt for shelter in cryptocurrency. The economic market can practically never reach an optimal situation and will continuously move from inflation to recession and vice versa. Thus, the crypto market is expected to keep rising in the future as well.
A Source of Investment:
The public is looking for a ‘safe-haven’ asset which means they are looking for a market that will increase in the future with negligible chances of loss. The Crypto market is observed to be such a safe-haven that people tend to prefer it as a source of investment.
A new economic trend takes place as public trading companies shift from keeping cash to keeping bitcoins and other cryptocurrencies. Investors have shown confidence and reliance in the crypto market. A recent example would be from the business analytical company, MicroStrategy, which converted $425 million in bitcoins.
Similarly, many other companies and investors have followed the trend and invested in bitcoins. Thus, a major rise in the crypto market is observed. Economists believe that if the investment continues like this then the crypto market will flourish in the future as well.
If you take a close look at the market trend, you will see that the market has been rising for years. If similar circumstances continue to exist, there is no stopping to its growth. Researchers have predicted that a constant increase in bitcoins’ trajectory will result in its worth of $100,000 by the end of 2021.