Why Does the Future Look Bright For Cryptocurrencies?

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Cryptocurrencies are having a blast in 2021. The biggest upset was caused by Bitcoin, as this cryptocurrency managed to rise to $63,000 back in April. What’s even more interesting about it is the fact that many experts believe that Bitcoin has the potential to rise to $100,000 by the end of the year. 

Research shows that there are around 7 million crypto users in the world these days, which is a massive success considering that cryptocurrencies gained momentum on the market back in 2011. Recent developments have shown us that the future for these digital assets looks bright, and that is exactly the topic that we wanted to discuss in this article. 

We are going to take a look at those reasons and thus, explain who the crypto world will keep progressing in upcoming years. 

The Acceptance Rate Keeps Increasing 

As we just stated, research shows that there are around 7 million crypto users in the world. That number keeps increasing by the thousands each day. Cryptocurrencies provide users with instant and secure online transactions and give them the chance to make a profit. 

Since thousands of new traders register to the crypto network, the trend is likely to continue in the future, and that is why many experts believe that the total number of crypto users is likely to double in the next 2-3 years. 

Trading Sites Are Becoming Better 

Trading sites are the marketplaces where you can trade cryptocurrencies. Over the years, they have made sure that they provide their registered users with advanced services that will allow them to take full advantage of their chosen cryptocurrency. 

Take a look at Bitcoin Profit platform as an example. This trading site is used by thousands of traders from every corner of the planet. The reason why it is so loved is that it utilizes an AI system that is capable of potentially maximizing your profits. 

Here’s how it works. The system takes all the relevant data about your chosen cryptocurrency from the market and analyzes it to see whether the new developments can affect its price. Thus, it makes accurate predictions on your crypto’s future fluctuations. Now, it is important to know that you are not guaranteed a profit, but the chances of making one are increased. 

Many Countries Are Already Lenient Towards Cryptocurrencies

Bitcoin was the first cryptocurrency to be invented back in 2008. During this period, it was mainly used on the black market, and a vast majority of the nations rejected it and had pretty strict policies against Bitcoin and all other cryptocurrencies that were formed during that period. 

All of that has changed now. Many of the countries, including members of the European Union, the USA, and Canada, are pretty lenient towards cryptocurrencies, especially Bitcoin. Moreover, the institutional interest in it is vast as many of the world’s most reputable brands, including the likes of Microsoft, Starbucks, Expedia, AT&T, Subway, Overstock, Whole Foods, and Wikipedia, are accepting crypto as a payment method. 

Yes, there are still countries that oppose cryptocurrencies, with Russia and China being the biggest ones, but the fact of the matter is, crypto has had massive progress.

El Salvador Made a Major Move 

Speaking of countries that are lenient towards cryptocurrency, El Salvador has decided to make the most daring move so far. Recently, its president Nayib Bukele has passed a motion in El Salvador’s Congress in which he proposed a law that makes Bitcoin a legal tender. 62 out of 84 Congressmen voted in favor of this law, and hence, El Salvador became the first country in the world to legalize Bitcoin in its entirety. 

What’s even more interesting about it is the fact that the government provides its residents with a starter $30 pack for trading Bitcoin.

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