2020 is the year of the corona virus, with almost all financial markets disrupted in all directions. More and more people are looking for alternatives to their savings accounts and are quickly turning to cryptocurrency.
In this presentation, we will see which cryptocurrency can perform well between 2020-21 and why.
As you ought to know by now, market cap is used to identify the value of a cryptocurrency and compare it accurately against other cryptos.
In the world of cryptocurrency, market cap or market capitalization is a measure of crypto security. It is typically defined as the total circulating supply of tokens multiplied by the current price.
Market capitalization is an indicator of the amount of risk involved in crypto investment. Large cap cryptocurrencies present less risk but limit the growth potential substantially. Small cap cryptocurrencies inherently present more risk but have huge growth potential yielding tremendous rewards to early investors when they succeed. Read more
Cryptocurrency Market Cap or Cryptocurrency Market Capitalization is a useful metric used to understand the real value of a cryptocurrency. This metric indicates the size and market value of a circulating cryptocurrency.
The market capitalization of a cryptocurrency can be represented by this simple equation:
Price of each coin * Circulating supply (total number of coins in the market) = crypto market cap
BlockBanc is a multi-protocol utility wallet that combines the power of decentralized and centralized technology in a simple & secure mobile application. This all-in-one application houses the tools and resources you require to enrich your knowledge about cryptocurrencies and become a successful crypto trader.
In this presentation, we will go through the three simple steps by which you can use the BlockBanc app to learn everything about cryptocurrency on a single page.
It was in 2017 when cryptocurrencies soared to the next level. As a result, their importance developed a lot in comparison to the way it was before.
So, what does the future hold in store for us? At AiBB, we have highlighted a few key points for your reference.
Everyone will start using cryptocurrencies – and they may not even know it
Although it’s been a decade since cryptocurrencies came into existence, there are people who don’t know about it. They use the traditional method of transactions to manage the cash flow.
In the future, businesses are expected to start the use of cryptocurrencies as a mode of payment for their services, thus, removing the middleman in the process. This will definitely help in the reduction of cost making their services cheaper to the masses. All of this will happen even when people are not aware of cryptocurrencies.
Bitcoins will reach $ 1 million
By the end of 2020, bitcoins are expected to reach $ 1 million. They can take control of the global economy, thereby increasing demand.
Snapchat owner Jeremy Liew and Peter Smith, co-founder of Blockchain, predicted that by 2030 the price will have reached $ 500,000.
- In the future, Bitcoin will serve as remittances for many people.
- Lack of knowledge can prompt people to buy Bitcoins as a safer investment method similar to gold.
- With smartphone transactions, half of the world will move to non-monetary transactions by 2030.
- Cryptocurrencies are expected to replace Government Fiat currencies.
All Government fiat currencies will cease to exist as people start walking towards cryptocurrencies like Ethereum, Bitcoins, Litecoins, etc. The main reason for this adoption is that cryptocurrencies are considered the reliable storage of value across the country’s borders and political aspects.
If you consider the most popular cryptocurrency, Bitcoin, it reached the top 30 list by exceeding the $10,000 mark. So, most crypto experts predict that these currencies are here to stay by being an alternative to Fiat currencies.
Government agencies are expected to adopt the Blockchain technology.
Most countries having SEC guidelines are expected to start adopting the use of cryptocurrencies for their governments.
All government agencies typically maintain a separate database. Each agency depends on the other for its processes. It has been a tedious process these days. When Blockchain came into existence, the distributed ledger can help in providing effective data management to improve and simplify the process.
The Internet of Things will play a big role in the future of cryptocurrencies
The IoT is already there. When these two giants combine, we can expect a fantastic future for technology without a doubt. According to the recent IDC report, it is expected that Blockchain technology will soon join the Internet of Things.
The primary motto of this IoT integration is to make a secure and scalable framework for communication between these devices. And then, cryptocurrencies also have the stability to make micro-investments for smart devices efficiently.
So that’s basically it. Hope you had a great read.