The astonishing rise of the Bitcoin value put this digital coin on the list of the most promising types of investment for the nearest future. Not only Bitcoin is revolutionizing the international market, but other types of digital money are also conquering their niches and the attention of millions of financial and crypto experts. If you would like to know more about why the crypto industry is still gaining popularity, this post is right for you.
What Should Everyone Know About Cryptocurrency?
Cryptocurrency has become the most innovative class of assets available to both beginners and professional traders. Although it was developed as a convenient alternative to the traditional financial system, the crypto coins soon turned into a new way of storing value. Moreover, cryptos have a number of fantastic benefits that are not common for standard financial assets:
- Transparency
- Reliability
- Reputability
- Easy access to the market
But why does the market for digital coins continue to evolve in 2021? Let’s analyze the role of cryptos in the past year to find out the answers.
What Happened In Crypto Space?
There is nothing new that we live in the era of cryptocurrencies. Currently, this field is facing the most groundbreaking technological innovations. New types of coins appear from time to time, as well as their functionality continues to be significantly improved. Here are a few events that took place in the past year that are likely to have a drastic impact on the development of crypto cash in 2021.
Rapid Growth Of Bitcoin Value
It is a well-known fact that the value of Bitcoin has been growing for years. However, the coin’s breakneck rise in December 2020 looked impressive even for the most experienced traders. Let’s compare some simple numbers. In early March (exactly at the beginning of the coronavirus crisis) Bitcoin was below $4,000. Only eight months later, the coin reached the value of $24,000! Such a whopping growth is surely not common for any other financial asset.
According to the predictions of numerous financial and crypto experts, the value of most digital coins will remain on the rise in the upcoming years. Therefore, this type of asset will continue to be among the most popular investments for thousands of traders.
Elon Musk Bitcoin Investment
Elon Musk, one of the world-known influencers in innovation, technology, and finances, has recently invested US$1.5 billion in Bitcoin. This caused a significant increase in the value of this cryptocurrency, too. Not to mention, not only Musk’s Tesla shows interest in buying Bitcoins, but other industry leaders including BlackRock Inc. are also dipping their toes in the crypto market.
The Popularity Of Crypto Trading Bots
A crypto trading bot is special software that can buy and sell different types of cryptocurrencies on your behalf automatically. But why are they becoming so popular? The reason is that crypto trading bots allow beginners who have little to no trading experience to start buying and selling digital coins with no effort. You can also set up your bot according to the specific parameters and benefit from making the most winning deals with no need to constantly monitor the crypto market. Moreover, crypto trading bots offer a number of extra benefits:
- Easy to use and convenient
- Allow buying and selling coins 24/7
- Require minimum human intervention
- Are great alternatives for beginner traders
- Allow setting up notifications if any drastic changes on the market occur
- Have an option to trade different types of digital coins
It is also worth mentioning that pro crypto traders also use bots for making deals since it is an easy, safe, and reliable way to earn good money when trading cryptos.
Facebook Is Planning To Launch Its Cryptocurrency
The crypto market is likely to face a new revolutionary change since Facebook, one of the world-famous companies, is planning to launch its own cryptocurrency. David Marcus, the head of Facebook Financial, has recently announced that he believes both the Diem (the new cryptocurrency) and Novi (the crypto wallet) will be launched in 2021. The company is currently waiting for approval from the Swiss Financial Market Supervisory Authority.
Clearer Regulation Policy
Since cryptocurrencies are a relatively new asset, certain fields related to digital coins still lack regulation. However, the situation is getting better. One of the United States’ top financial regulators informed that new regulations on Bitcoin and other crypto coins were coming soon. The basic operating principles of buying and selling coins are likely to be the same. Still, the entire crypto market will become safer and more transparent.
PayPal Gives Customers New Crypto Opportunities
PayPal, one of the hugest payment systems, now allows users to hold crypto coins on their wallets. Although you still can’t buy, sell, or transfer digital coins via PayPal, the new feature available is considered to be a real breakthrough in the financial world. The new opportunity would help accelerate the adoption of digital coins by major financial players.
Coinbase Trading Debut
You won’t surprise anyone when buying Bitcoin or other cryptocurrencies. But what is really amazing is that you can now buy the company that helps you purchase digital coins! What does it mean?
Coinbase, one of the biggest crypto exchange platforms, has finally become a public company. According to the freshest data, it plans to post its shares on the Nasdaq stock exchange. This is a remarkable event for the entire crypto world.
The Growth Of Ethereum Value
Not only Bitcoin is booming the industry of crypto coins. Etherium, one of the cryptocurrency leaders, has shown a 40% growth in the past year. Most crypto experts believe that other digital coins are likely to keep growing in the nearest future.
Conclusion
The crypto space is currently booming. Digital coins are conquering new fields and are adopted by more and more financial institutions. Moreover, not only pro traders have access to buying and selling crypto cash, but beginners also get an opportunity to benefit from trading with the help of handy and easy-to-use bots.
