The Crypto Revolution is Upon Us – Emogi Coin
Analysts across the crypto space look at past trends in the crypto market to predict future events. Many are looking at what happened in 2017 and look for similarities in today’s market in an attempt to forecast the next moonshot in crypto. The problem with comparing the current market conditions to that of 2017 is that it doesn’t take into account the maturation of the crypto space as a whole which is vastly more spread out and “open for business” in 2019.
Let’s focus on crypto traders in the U.S. Back in 2017, the options fiat onramps into cryptocurrency were limited. Users basically had Coinbase, Gemini and Kraken, and even those had difficulty remaining in operation when the FOMO really kicked off.
Fast forward to today and there are too many fiat onramps to count. And we are not just talking about obscure names or small, privately launched exchanges. Fidelity Digital Assets just launched their crypto trading desk for retail buyers, and this is just one of the big players who recently got involved.
Not to mention the recent launch of the Bakkt platform by the Intercontinental Exchange and increased Bitcoin Futures interest by Institutional investors on the CME platform.
Then there is the bevy of stablecoins that have launched in the past 2 years, offering traders the opportunity to convert their dollars into a digital coin equivalent that maintains its value and offers the quick transferability of other cryptocurrencies.
And then there are the central banks of the world. In the past couple of months, these dominant financial institutions from around the world have begun to one by one come out and say that they are developing or have already developed and soon plan to release their own version of a digital form of their respective fiat currency. The rapidity with which they unveiled these plans following the announcement of Facebook’s Libra project shows just how much of a challenge they see coming from the cryptocurrency sector.
All of these digital integrations and fiat onramps are poised to bring an entirely new bull market experience to the cryptocurrency sector. The general public is starting to notice the billions of dollars in new money recently printed by the likes of the Fed, and are beginning to realize that their wealth and purchasing power are being seriously eroded away.
As we head towards the end of the year with similar conditions as last year starting to emerge, which saw a significant drop in the stock market that sent investors around the world panicking, it would be wise to keep an eye on the crypto market as to the zeitgeist of the public. 2020 is shaping up to be a year of change around the world, and we are likely to see financial fireworks the likes of which have not been seen in nearly 100 years.
The Crypto Revolution is Upon Us.