Banks can’t control it, governments can’t limit it, and cryptocurrency is dismantling the standard money system we’ve known all our lives, piece by piece. These are just a few key reason why cryptocurrency is taking the world by storm. The only question left is, “Is it here to stay?” You can't escape the influence technology these days. We have smartphones, smart cars, smart homes, and more. It was only a matter of time before smart money came into view. Like most new technologies, it took a while for cryptocurrency to garner worldwide attention outside of tech circles, but now, people are catching on. So, what is it about this new digital trend? Why is it growing so fast, and will it eventually fade away?
Why is Cryptocurrency Growing: Cryptocurrency is a Classic Lesson on Supply And Demand
Cryptocurrency is an innovative technology, but it is not immune from the old principles of the economy. Take supply and demand, for example. In the case of digital currency, the worldwide demand for it is skyrocketing. Since the supply of all digital currencies is finite and public interest remains high, that creates a deficit in the market.
Why is Cryptocurrency Growing: China and Japan’s Growing Obsession with Digital Currency
You can find another reason for this massive growth in the far east. Compared to the west, Japan and China are accepting the digital currency as a legitimate banking system as opposed to a criminal currency. As a result, trading activity in those countries burst to life as investors rushed around to trade their fiat currency for Bitcoin.
Why is Cryptocurrency Growing: Certain People Really Appreciate the Privacy of Digital Currency
On the other end of the moral spectrum, we have investors that love cryptocurrency for its privacy and security. In an age where investigators worldwide are cracking down on crimes like money laundering, digital currency offers a secure, anonymous, and convenient solution away from prying eyes. So, is crypto the real deal? Veteran stock researcher Ronnie Moas thinks so. To him, there is no end in sight for this growth. Moas predicts that we will have between 50 and 100 million digital currency users within a couple of years. That’s up from 10 million today. It’s still too early to tell whether the crypto bubble is a real thing or not, but keep in mind: cryptocurrency (like fiat money) has its ups and downs. This is just the nature of the economy, so don’t let its wavering value deter you just yet.