5 Biggest Cryptocurrency Trends You Need To Watch Out For In 2020
By Staff Reporter
Aug 15, 2020 10:49 AM EDT
Aug 15, 2020 10:49 AM EDT
5 Biggest Cryptocurrency Trends You Need To Watch Out For In 2020(pixabay) (Credit: Getty Image)
The last few years have been very positive for cryptocurrency enthusiasts as well as investors. With strong attention from Wall Street being given to Bitcoin, the ecosystem is also seeing a spike in the number of retail investors.
While all these sends positive signals in many ways, experts predict that the best is yet to come. Given the craze around digital currencies, asset-backed Stablecoins, Bitcoin alternatives like Altcoins, and others; it is no wonder that almost everyone is taking note of happenings in this area.
The famed Bitcoin Halving took place in May 2020 and started trending immediately on Twitter. This resulted in increased stability and mature growth for the largest crypto in the market right now. However, even beyond the Halving, there are several other important trends, which are happening in 2020.
List of Cryptocurrency Trends you need to watch out for in 2020
1. The entry of Big Corporations into the Digital Currency Ecosystem-
If you have not been living under a rock, you will know how Facebook is in very advanced stages to launch its own asset-backed crypto, Libra. While opinions are divided whether it is a truly decentralized currency or not, Mark Zuckerberg's announcement has created waves.
In addition to Facebook, other billion-dollar entities like Google, Walmart and others are also mulling the creation of their own forms of digital currencies. You can say that the idea behind having a decentralized digital currency is attractive and shows a lot of promise.
2. The Rise of Retail Investors in Cryptocurrencies-
For a very long time, retail investors stayed away from investing in crypto because of its volatile nature and risks. However, it is these two very factors, which are attracting them to it in 2020. Experts state that there has been a significant increase in the number of retail investors.
In this article by Cryptimi you can read which are the top 5 cryptocurrencies to invest in this year.
This has been brought upon the high rate of growth, which crypto offers as an investment asset. The rise has also been attributed to the proliferation of reputed crypto trading platforms like Crypto Group Software. The rise of retail investors is going to power the next wave of crypto growth in the world.
3. Increased Regulation from different Governments-
If you have been following the news, you will be aware of how the Indian Supreme Court made crypto dealings and transactions legal, setting aside the decision of the central bank. Likewise, other governments all over the world are also engaging with regulations.
The more government and its bodies try to regulate and bring some formality to cryptocurrencies, the more is it expected to become mainstream. The year 2020 is seeing many governments, financial and legal institutions engaging with the crypto in different areas.
4. Increased Lobbying from Wall Street-
The year 2020, was historical in nature as many of the biggest firms on Wall Street started speaking in favour of cryptocurrencies. Whether it is Goldman Sachs or Morgan Stanley or Tudor Investments, all of them started speaking in favour of cryptocurrencies.
Many predict that once big investors and Wall Street steps in, it will force the government and financial institutions (SEC) to take note and step in in a favourable manner. As Wall Street starts investing billions, they will look for stability and ensure legality for their investments.
5. Newer Technological Advancements in the Fintech Space-
We already know how many of the biggest financial giants are seriously exploring Blockchain technology and creating newer technological products to ease finance and banking in different areas. This trend is expected to grow and more investments are expected in this form of technology.
Apart from being just an asset base and a currency form, the technology behind Bitcoin and Blockchain has a ton of applications in different industries. Many start-ups, as well as billion-dollar tech firms, are exploring this new technology.
While 2020 has already been a watershed year for Bitcoin, 2021 promises to be even more exciting. This is because Bitcoin as crypto is maturing and is set for a massive uptick. What is the next big trend we should watch out for in the crypto ecosystem? Let us know in the comments section below.
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