Given the uncertainty of times we live in, predictions regarding any aspect of human existence can be called in question. When it comes to cryptocurrency prediction, we can see clearly that the blockchain technology is gaining popularity, justifying its usefulness not only in the financial sector.
So far, all cryptocurrency predictions imply the growth of bitcoin value in time. By the way, the current market cap of bitcoin reaches $186.37 billion. With bitcoin and ethereum as topmost cryptos, there are more than 5000 cryptocurrencies today, 200 of which have great forecasts regarding their value and future presence on the crypto market.
However, since the most prominent cryptos in the world are bitcoin and ethereum, most people want to know how much bitcoin is, how much bitcoin will be worth, and ethereum predictions 2021. So we will base our future crypto prediction on these two as a benchmark for all the crypto markets today.
Crypto as a rival to fiat money
Crypto can become a significant rival to leading fiat currencies, especially to the dollar and euro.
Considering the COVID-19 pandemic, US/China trading war, and Brexit, many pundits fear that the world economy will be on the verge in several years to come. How can global economic factors affect the price of cryptocurrencies? All these factors make many advocates for cryptos and gold as a shield for investors to protect themselves from a global market’s downturns. And what is the most important, cryptocurrencies with Bitcoin on top are not subject to market pressures and therefore, can perform independently.
Ethereum prediction 2021
After bitcoin, another most valued crypto is ethereum, and according to some predictions, ethereum could even outscore bitcoin in the next several years. Today, the Ethereum network is one of the most popular in the crypto space, and we can expect a manifold of growth in its value. Some forecasts go up to $2000 or even more. The current market cap is valued at $39 billion. Ethereum platform is one of the first to develop smart contracts that are made without human intervention. Their platform enables many other cryptocurrencies to exist with no need to create their own blockchain technology.
Is Cryptocurrency on its way of becoming mainstream
What spooks most investors in cryptocurrencies is the reluctance of rich countries to the idea of decentralized payment networks. The lack of regulations also presents another kind of issue. Due to the marketing manipulation concerns, governments are reluctant to adopt cryptocurrencies as a mainstream way of payment in money transactions. But we are witnessing big changes from all sides. We saw China back in 2017 strictly banned the bitcoin and crypto exchange and in 2019, some upbeat attitudes have been expressed by the Chinese president toward blockchain technology.
Among many other countries, such as San Marino, Switzerland, Malta, Liechtenstein has been working on crypto legislation. It will create a trusted structure for investors. When it comes to other countries, developing a legislative framework for the cryptocurrency is nudged by a need to reshape the monetary system, especially in countries where the government thrives on rebuilding its economic system cryptocurrency and blockchain. The regulative framework will push cryptocurrencies from the margin of financial systems.
Retailers are more prone to accept cryptos
There’s more and more retailers worldwide who are just ok with payment in cryptocurrency.
Salary payments in New Zealand are enabled in cryptos. It won’t take long until this model reaches the rest of the world.
Microsoft stores, Whole Foods, already accept cryptocurrency. And it’s just the beginning. We will see more and more retailers and companies approving cryptocurrency as a payment method over the next few years.
What will be completely game-changing is if supermarkets, coffee shops, and fast food start accepting cryptos as a payment form. It is slowly about to happen. And it will surely increase the popularity and value of ethereum, bitcoin, and all the other cryptocurrencies.
This natural progression is happening at this moment. Just 20 years ago, paying with checks was commonplace while today, contactless cards have taken over. So it’s not excessive to say that a similar transition is waiting for us in the next ten years.
Crypto evangelists believe it won’t be just retailers who begin to help nudge Bitcoin and crypto toward the mainstream. In 2019 Facebook unveiled its Libra cryptocurrency. Some pundits have predicted crypto could end up as a top global currency with the social platform as the world’s premium bank.
Cryptocurrency prediction 2021 with the help of AI
Technological development, along with the deployment of artificial intelligence, will surely affect cryptocurrency. It will positively affect building customers’ trust in blockchain, speeding up transactions, and developing stable investors’ stable conditions. Besides, artificial intelligence will certainly help in predictions of cryptocurrency fluctuations with its most accurate predictive methods.