Cryptocurrencies in 5 Years: a “Quite Harbor” or a Payment Tool?
2017 turned out to be very successful for the cryptocurrency market. Many digital currencies increased in price by several times. The bitcoin exchange rate rose from $890 at the beginning to the year to about $20,000, though with a subsequent fall to $8,000. A similar dynamic was observed with a number of altcoins, including Litecoin, Ripple, Ethereum, and others. In 2018, the dynamics of the market turned negative for a number of reasons (a negative attitude towards cryptocurrencies by the leadership of some countries, prohibition of advertising cryptocurrencies and ICOs on Facebook, etc.). Nevertheless, having already appeared, cryptocurrencies aren’t going anywhere. The market will continue to develop.
But what awaits it in, say, 5 years? At the present, several experts agree that cryptocurrencies and the blockchain are in the same stage of development as the Internet was in 1999. There are many opinions concerning the future of the cryptocurrency market. Provided below are opinions expressed by many representatives of the cryptomarket, including those of analysts, developers, and financiers.
Various Countries are Beginning to Issue State Cryptocurrencies
The initiative to issue state cryptocurrencies was expressed earlier by several countries, including Russia, Great Britain, Venezuela, China, Belarus, Israel, and others. Soon, several of these countries may move from words to action and issue a national cryptocurrency or even cryptocurrencies.
These cryptocurrencies will be regulated by the country’s legislature and have a well-defined exchange rate to more common currencies (USD, EUR, etc.). Most likely, the exchange rate will be in relation to its own national currency at 1: 1. This kind of coin will be accepted at any retail outlet, for government services, and at banks.
For the idea to be realized, legislation must be changed by adding a number of laws to regulate the cryptocurrency sphere. ּBy the way, this is necessary not only for national cryptocurrencies.
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