A Look into the Future: What Will Become of Crypto in 10 Years?
As technology develops, the different means by which it can be used change at an equal rate. A major advancement within the world of technology and the economy as a whole in the past decade or so is the introduction of cryptocurrency. Bitcoin was the first variation to be launched back in 2009, and since then, cryptocurrency has exploded in popularity as different forms are made, and more people are investing with the intention of trading or spending it.
The increase in popularity can be seen in the increased price of Bitcoin since it was introduced. Back in 2011, one Bitcoin cost $1; however, if you fast forward to 2022, then Bitcoin is now worth around $38,448.83. It is the biggest form of crypto in the world, but other popular versions, such as Ethereum and Litecoin, are also incredibly valuable. As a result, the entire market continues to thrive.
So, as cryptocurrency currently seems to be doing well (albeit with some fluctuations), the question remains whether or not this is going to continue in the future. Throughout this article, we will be discussing in more detail what the world of crypto will look like in 10 years’ time.
Can The Industry Continue to Thrive?
There are a lot of people who frequently try to argue that the cryptocurrency industry has hit its peak and is merely a phase which will steadily start to pass. There are also some people who think the recent crash in crypto, which was caused by circumstances affecting Luna-Terra, the equity market, and rising interest rates, will be hard for the industry to shake off.
Where people are right to approach crypto with some trepidation, we are getting past the point where this market can merely be viewed as some kind of a flash in the pan. The fact is that crypto and the economy that has been built up around it is a very legitimate industry which is starting to get more accepted into the mainstream and has genuinely interrupted the traditional financial infrastructure.
Some analysts have considered the current crypto market and predicted that it would likely hit an estimated valuation of around $5 billion, which would be a massive tripling of its value. This is going to come as a result of crypto steadily getting more and more accepted into the mainstream, which has been seen recently as the likes of Visa and Mastercard have both decided to embrace it. Both firms are now starting to offer credit cards which support the use of crypto in what can be considered a massive move for the entire industry.
Price Predictions of Bitcoin in 2032
Granted, 2022 hasn’t been the greatest period for Bitcoin, but that doesn’t mean that you should begin to underestimate its overall power and potential. It remains to be the leader in the realm of cryptocurrency, and its performance seems to have a direct influence on the rest of the market, which is a clear reflection of just how important it is in the grand scheme of things.
The coin hit its all-time high in November 2021 as each individual token was valued at $69,044.77 in the event that went viral. There are currently over 19 million coins in circulation, and we can expect by the end of 2030 for the majority of all the bitcoin available to be mined.
There is a company called Libertex that specialises in crypto and stocks, and they have said they believe the price of one Bitcoin could amass to $900,000 or $1,000,000 by 2030. Granted, given the current price sits at $38,242.68, this is quite unlikely, but given the journey bitcoin has been on, nothing is impossible.
Next Generations Rising Stars of Crypto
Though it’s likely Bitcoin is going to continue being the most popular and valuable cryptocurrency, there are enough variations now that these are going to continue to be created and have an impact on the market. Some, such as Cardano and Solana, are already doing big things throughout the industry and will continue to get stronger and possess a bigger authority. There are also community-driven cryptocurrencies like FIREPIN, which are being developed with the metaverse in mind. This is a good reflection of the fact that as technology keeps developing, the different ways that crypto can be implemented also develop, and so there will always be opportunities for innovation within the sector.
Multifaceted types of crypto are steadily becoming more and more common throughout the digital space at the moment, and FIREPIN is an excellent example of this. Thanks to virtual reality and blockchain aspirations, currencies like FIREPIN can have a large impact across multiple different sectors across the entire digital asset sphere.
The fact is that one of the reasons crypto is such a large industry is because there is so much opportunity contained within it for different companies. This means that a lot of the rising stars of crypto may not have even been developed as of yet. People who are interested in the market will need to head over to different news outlets and blogs in order to stay on top of developments within the world of crypto.
What Does the Future of Crypto Look Like?
Cryptocurrency has become incredibly popular throughout the past decade or so to the point that the entire industry is very valuable. There are a lot of people who have often said that the world of crypto is merely a passing phase and more than likely has seen its peak. On the other hand, there are many analysts who think its momentum will continue.
We are likely to see the industry continue to thrive as it is accepted more into the mainstream, and as such, more people become interested in investing. The number of new cryptocurrencies that get made also impacts its value because the industry leaves itself open for innovation. In order to stay on top of developments within the world of crypto, you should be sure to follow blogs such as YouYaa, which provide frequent updates on the industry.