Beyond a shadow of a doubt, cryptocurrencies are gaining ground daily. Although they have had their own fair shares of hitches, the fact remains that cryptocurrency is gaining more acceptance as the years go by. In as much as cryptocurrency is gradually becoming more accepted than it has ever been, there are certain components that are needed to make cryptocurrency colossal. With these factors in play, cryptocurrency can attain the level of popularity that is needed before it can be accepted by virtually everyone.
That said, below are three factors that will likely make cryptocurrency colossal in 2019.
The Interest of Central Banks
For a while now, there has been a massive increase in the number of central banks that are interested in digital currencies. As a result of this interest, digital currencies are now being investigated more closely. This is being done for the purpose of understanding the concepts behind cryptocurrencies, as well as blockchain, and how they can be made use of to make the banking sectors more efficient.
It is believed that as a result of these investigations that are being carried out by central banks, digital currencies will be viewed in a new light by central banks. Although the positive perception which central banks are going to have about digital currencies is amazing, even more amazing is the fact that the interest of central banks in cryptocurrency will go all the way down to smaller banks.
As smaller banks get interested in cryptocurrency and start to investigate it, the negative perception that lots of financial institutions have about cryptocurrency will be a thing of the past. This will make cryptocurrency acquire the status of an asset and not just a tool for easy money laundering. As soon as cryptocurrency is perceived to be an asset, more people will be willing to invest in it.
Cryptocurrency Apps will Make Cryptocurrency Colossal and Trendy
Digital currencies have gone through a couple of phases since they were invented. Just at invention, they were considered to be something set aside for only geeks, after this lasted for a while, digital currencies became associated with scammers. The privacy feature of cryptocurrency which is one of its strong points was made use of for a long time by criminals in defrauding people.
Well, gradually, cryptocurrency is becoming less associated with criminals and becoming a trendy tool. As more cryptocurrency apps are built, cryptocurrency will offer more value to the average person and will end up with more popularity.
According to surveys that have been carried out in the past, the more value cryptocurrencies generate, the more popular they become. Now, how does this lead to making cryptocurrency colossal?
As the institutional investments in cryptocurrency increase, they indirectly bring about an increase in the value of cryptocurrencies. This increase in the value of cryptocurrency will ultimately make cryptocurrencies more popular. With the right amount of popularity, cryptocurrency can become colossal before 2019 runs out.