There have been multiple changes in the way people think about investing and financial matters, particularly during the COVID-19 pandemic. This includes an increase in investment in cryptocurrencies and blockchain technology, as well as an ever-growing number of ICO (Initial Coin Offerings) and new options in cryptocurrencies.
Another factor driving the increase of crypto transactions is linked to the work from home environment that allowed people the freedom to watch crypto markets and begin trading. While these may have been relatively small transactions, they had a cumulative result in driving the market.
Who Predicts the Future of Cryptocurrencies?
With the decentralized format of cryptocurrencies, determining anything more than short-term trends may seem difficult. While this is true for new cryptocurrencies, there is a signficant record of the performance of many of the existing cryptocurrencies, including Bitcoin.
Investors, venture capitalists, and startup founders of cryptocurrencies contribute to information about the future of different crypt assets and the strength and advancement of blockchain technology.
Increasing Mainstream Use of Cryptocurrencies
The increasingly mainstream use of Bitcoin for a wide range of purchases, investments, and financial transactions will drive blockchain technology and the use of cryptocurrencies in a wider range of different markets and areas.
This includes both cryptocurrencies as well as NFT (non-fungible token) markets. NFT are Ethereum-based assets and use the Ethereum blockchain. While these established cryptocurrencies show positive growth, the increasing number of ICOs and new cryptocurrencies do not have the same stability or positive trajectory.