We are in the year 2023 and the crypto industry has grown a lot in the last few years. If we compare the growth between the last two bull cycles then we can major the difference. This year 2023 has not started on a good note because we are in a bear market. The market movement is not high but the development is good. In this market it often happens when the prices are on the lower side then the development is on the higher side. The good thing about the Crypto market is that it is built on high technology called blockchain and innovation is always on top.
Technology plays an important role here and this is Why things are mostly in auto-pilot mode whenever built which is not possible as of now in multiple industries. Cryptocurrency is not just for trading purposes anymore instead, it has grown a lot and with that, we have got a bunch of options to go for. Earlier it was only for trading purposes but in the last couple of years, things have improved a lot and given so many options to be part of and join this Crypto segment which is growing globally.
We know that it is going but at the same time, we also know that not every country is in favor of the currency. China has been one of the countries where it was banned but again it seems the country is trying to enter through different ways. They used to manipulate things a lot and somehow were expecting that if they exit the market then things will talk and not be sustainable anymore however it did not happen. People were scared after the announcement by China that now Crypto is going to be dead but as far as I remember the post-China exit hardly there was any impact on global prices. Many countries are not in favor of cryptocurrency as of now but we can not say that they'll be against always. There may be an option where the countries are exploring the possibilities else banning was always easy and they could have done it.
While the Crypto segment is growing and countries are looking forward to the infrastructure that is capable of running things on a scale. Some countries are considering the options to make it legal tender but I think the majority of countries will not go with this option because it's not easy. If the majority of countries consider it as a traditional setting like the stock market then also things are going to be good and I expect that it will be happening for sure but might take some time.
It has the power to empower the financial sector and even it can give a boost to cross-border payment because it does not just cause affect you but also easy to share money in less time. International money transfer is expensive and it even takes time but with Crypto, it can be transformed and to make it happen banks are expected to work on this. You never know if the banks are exploring the possibilities on the blockchain through cryptocurrency but it is difficult to say as of now unless things are built and launched for the general public.
#Thank you*
