Is Cryptocurrency Ready To Become A New Financial Norm?
COVID-19 has forced interesting makeshifts regarding our economic and financial securities myths. This economic system proved too volatile to handle a Pandemic like a situation where lockdowns hit the global economy too harshly.
Millions of people have lost their jobs and governments are pulling over their best efforts in order to control the poor economic implications. The damage has been done and the mindset of people has changed drastically. Concepts related to job security and believing that traditional businesses will continue to survive have been shattered completely.
People Will Now Look To Build On Alternative Streams of Income
Once things normalize, the people who have been the hard workers will now look to decrease their reliance on a single income source. Alternatives are considered in the thought process of the individuals and unluckily, we have only 24 hours a day.
The cryptocurrency trading has been the most discussed alternative option where one can expect reliable and quick returns on investment. Teeka Tiwari 5 coins to 5 million promise some worthy return on investments as he predicts that Bitcoin price could surge dramatically to $100000.
Since the first emergence in 2009, Bitcoin was the first form of Digital currency where it could not gather the support of financial authorities. It continued to thrive as the cryptocurrency traders loved how the Blockchain technology worked out for them. Now it is 2020 and cryptocurrency is being discussed at the levels of World Economic Forum for it to become part of the current economic system.
Will It Be More Welcomed Now?
Bitcoin was believed to have reached its maximum price in 2017 where each coin was worthy of $20000 while just playing around $900. Similarly, the experts are predicting that the surge in pricing is well expected as demand and supply curves can show huge gaps.
The absolute thing loved by cryptocurrency traders is that they have decentralized control over their digital assets. You don’t have to be dependent on the market controllers and each of the individuals can carry out trading at his/her own will.
Additionally, the blockchain network is proved to be completely secure and the transactions are completed in no time. This continued to help the online trading communities and they motivated people around them to get involved in the cryptocurrency economy.
The global community is already willing to change their fortunes by having multiple streams of income before another pandemic strikes. The future lies with Blockchain technology and you won’t be surprised to know that most State governments have legalized the cryptocurrency trades.
It is only about time where bitcoin trading platforms will further penetrate as they offer much better convenience from remote locations. The think tanks are discussing how they can monetize these trades. Once they are able to do it you will see millions of people exploring their fortunes. Let the savings get generated and we are sure that it will be used for adjusting yourself to a new financial norm.