5 Cryptocurrency-Related Trends That Will Continue During The Next Months
The cryptocurrency industry has been expanding everywhere around the world. According to a study conducted by Ibinex, there are some trends that will continue to be strengthened during the coming months.
For example, Asia is becoming an important cryptocurrency hub. Clearly, China is not taking the lead in the cryptocurrency field since the government has severely repressed the industry. But other countries such as Japan, South Korea, Singapore and Thailand are expanding and showing they are open towards virtual currencies and blockchain technology.
In the future, with clear regulations, these countries will continue to offer a good environment for crypto companies to settle their operations.
Another important thing that the study revealed is that Bitcoin and cryptocurrencies are being embraced by younger generations. 80% of crypto holders are aged under 45, which shows that the youngsters are ready to innovate and experiment with the latest technologies that are spreading around the world.
This age division does not seem to be changing under any circumstance. However, companies are doing their best efforts to offer better user-interface that would allow older generations not to feel in another planet when they use crypto-related services.
At the same time, the United States does not seem to be changing. Indeed, the market continues to experience confusion and division when it’s about regulations and rules.
Each of the states has its own rules, creating a fractured crypto ecosystem in the American Market. The Federal Government should take action and create friendly and flexible regulations in order to allow companies to invest in research and development.
Although the crypto ecosystem is fragmented in the United States, it is also positive for each state to offer their own set of rules. Those states with clearer rules will ultimately benefit from virtual currencies and blockchain technology and will force other states to improve their regulations and policies.
During 2017, several individuals and investors heard for the first time about Bitcoin and cryptocurrencies. That allowed an important number of interested users to start investing in the market. According to this study, awareness is on the rise all over the world. The document says that the average global cryptocurrency awareness is 74% of the local population. However, not all of the 74% know the main differences between cryptocurrencies and companies in the cryptomarket.
Finally, an important development and trend that would have a positive impact on the market is the Middle East getting involved. In the last months, some rulings described cryptocurrency trading activities as Sharia compatible.
Dubai and Saudi Arabia are regional leaders helping the market in its expansion in this region. An important number of companies related to blockchain and cryptocurrencies are located in Dubai and Saudi Arabia as well.
This research shows that cryptocurrencies have still place to grow everywhere around the world, not only in developed countries or in regions with economic problems. This year, Turkey, Argentina and Venezuela have registered an important involvement in the market after the situation their economies are experiencing.
Source: Bitcoin Exchange Guide.