Is Bitcoin Moving Towards Mainstream Acceptance: Here Is What Experts Are Saying
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Is Bitcoin Moving Towards Mainstream Acceptance: Here Is What Experts Are Saying

February 11, 2021

Introduction

Is the Pandemic making Cryptocurrencies a conventional investing option or potentially a mainstream currency? We will start our articles with this question.

The jury is still deciding on any of these factors. However, if you will see the market, after the pandemic, these aspects have seen a significant boost. It seems that the bitcoin up had certainly well-tuned the Cryptocurrency train in 2020.

The impact of the pandemic has converted everything to digital, especially payments. With the advent of pandemics and the government encouraging people to go cashless, Cryptocurrency found a suitable market for flourish.

At the same time, due to a weak economy and below-average performing assets, traders and investors started looking for asserts that can actually act as a safe haven for their capital investment. That is when they thought Cryptocurrency could be used as a hedge to fight financial crises.

Is Bitcoin Moving Towards Mainstream Acceptance?

The Bitcoin value was less than $1000 before soaring to $20,000 in 2017 and again dropping to $4000 the next year. If it had been any other year, we would have considered its volatile nature against the investment.

However, one can hardly overlook its performance in the COVID 19 period. When all the assets were performing below the red line, Cryptocurrency was offering a profit to its investors.

With that pretext, we can certainly say that Bitcoin is giving fiat currencies a run for their money. If fiat currencies do not perform well today, we might see Bitcoin in the mainstream.

What Factors Points Towards Bitcoin Becoming A mainstream Currency?

The pandemic’s impact on the financial structure was so deep that we might need a decade to get back up. That being said, we believe that these factors will play an important role if Bitcoin ever enters the mainstream.

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1. Weakening Dollar

With the financial system standing on its last leg and Americans receiving government aid, the USA has asked the audience to tighten theory first for financial changes. While most of the things have been put on hold, the only thing that we can actually use freely is the internet and the exchange of money.

However, the value of the Dollars has seen notable changes. As people are directly dependent on government aid and businesses are taking help from the Payroll Protection Program, the Dollar’s inherent value is dropping day by day.

2. Bank Momentum

If you think that banking sectors make the most profitable deals, you are wrong. The last decade’s best-performing asset was not Amazon, Real Estate, Apple, REITs, or Microsoft; it was Bitcoin. Yes, you are reading it correctly.

Even though critics claim Bitcoin to be a bubble that can burst at any moment, people have been investing in Bitcoin and making millions out of their investment.

After seeing its performance in 2020 and how it reached its all-time best of almost $42,000, we believe that 2021 is the year when even governments will accept its regulation.

3. Disconnect Between Actual Wealth And Stock Market

Many Americans remain unemployed in their 30s and feel disconnected between their financial standings and the financial stock market. However, with new faces in the Crypto industry, they connect other people with the Crypto trading industry.

These names represent Cryptocurrency’s importance in the Crypto industry and make others believe that Cryptocurrencies are real and people are actually making money. We expect that soon, more global leaders will enter the market and provide much-needed credibility to the Crypto industry.

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The Future Of Bitcoin

Bitcoin is a word that you have heard at least once in the investment industry. If not, then you will surely hear its name in 2021. Bitcoin is a concept that has come to the industry to stay. In fact, the current scenario and the market situation is perfect for Bitcoin to nourish its network.

There is a reason why some of the most prestigious universities, tech giants, and business ventures are investing in Cryptocurrencies and Bitcoin. Slowly but surely, Crypto is building credibility in the market.

If you have no interest in Cryptocurrency, then why not give your curiosity a chance to explore what it is all about. You will surely love it.

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