Within Dark Economic Conditions Cryptocurrency Will Still Thrive
P2P Adoption Will Shine During The Coming Recession.
One reason that moves the crypto market direction is sentiment. The market sentiment has hit rock bottom again following negative news about crypto-friendly banks that blew up.
However, the cryptocurrency market will absorb all blows. We find several reasons it will keep rising in the long run, unaffected by temporary drawbacks.
The long run is where we can count for our predictions.
Although, we should examine what kind of cryptocurrency adoption we expect for the next ten or even fifty years.
Adoption is what matters and the reason the speculative cycles behave with such extreme volatility. If cryptocurrency finds a meaningful adoption rate, then it will be a great investment too.
Investors’ sentiment depends on people using cryptocurrency and the crypto platforms for the purpose they were created.
Exciting Days Are Ahead For Cryptocurrency
Envisioning the future is a task only bold and insightful pioneers perform with high accuracy and take advantage of with consistency.
We are all in this together because we believe cryptocurrency has a future, but the overwhelming majority has still not figured out the revolutionary part of Bitcoin.
No, it is not a get-rich-quick scheme.
It is not the popular individuals on Twitter that aggressively promote speculation instead of supporting the core ideals of Satoshi’s gift.
It is not Gabor Gurbacs, PlanB, Michael Saylor or Adam Back. All these Bitcoin leaders are absorbed by the speculative aspect of the crypto market but entirely missing the point.
To make cryptocurrency have a future, we have challenges ahead of us.
Permissionless P2P electronic payments will boost commerce and free the global market.
Define (or redefine) your position and reasoning, and realize how cryptocurrency can transform commerce by removing market barriers and enabling a truly global free market of goods and services.
On the other hand, as CBDCs will slowly integrate into our economies, they are handing out total control of money to just a few hands. The exact opposite of what decentralized cryptocurrencies are fighting for.
In the near term, the economy looks as fragile as it was in late 2007.
A repeat of the darkest days of the previous economic crisis is possible.
Dark Days Ahead For The Economy
Banks claim they offer the safest products, how they are regulated, and follow Basil policies, and in the end, this is all to mitigate their failures to higher ruling bodies.
Real estate seems a great option, but wasn’t it the same in 2008? There’s nothing different today than in 2008. It’s again in a bubble, and the best part is, for the same reasons!
Inflation is ravaging our income and savings. It takes some time for wages to adjust to inflation levels, and once they do eventually they lead to more inflation. It becomes a severe cycle of prices appreciating until, several years later, inflation reaches again a lower logical rate of (1–3%).
A recession is highly possible within 2023. While nobody knows how violently it will manifest, we can assume it will affect the stock market negatively.
We watched how two non-systemic banks collapsed but is there perhaps a higher risk that can be fatal to the economy?
Who can honestly ignore the odds of a 2008 repeat?
Closing Thoughts
Within possible devastative conditions for the economy, analysts are divided on whether cryptocurrencies will present a safer alternative than fiat currencies and banks.
Investors should envision rationally the future, unaffected by illogical bubbles, and “have fun staying poor” arguments by internet shills.
Many have realized speculation is not the driving force but the utility of decentralized blockchain networks and their adoption.
Yet, it is Twitter that temporarily decides. For some, it’s all about the money, and marketing can boost prices several times more than the cost of producing a single coin. Bitcoin (BTC) established its success with marketing and social media spam.
Anyone can recognize professionalism with amateur speculators, and sadly the crypto market has plenty of the latter that influence newcomers in the wrong approach.
Innovation and utility will shine in the long run, and those crypto influencers will become as irrelevant as the unscalable projects they support.
Cover Picture on Pixabay
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Also Read:
Platforms:
● read.cash ● noise.cash ● noise.app ● Medium ● Medium ● Hive ● Steemit ●Vocal
● Minds ● Publish0x ● Twitter ● CashRain
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