Cryptocurrencies have come a long way since the first Bitcoin which used to buy a couple of pizzas. Few of the people who owned these currencies still have them. But, many who rode the first wave of crypto have been rewarded with an ample amount of money and properties. How about 10 fabulous predictions for the future of cryptocurrencies?
Everyone will start to use Cryptocurrencies β and they may not even be aware of it.
Though it has been a decade since the arrival of Cryptocurrencies, there are people who arenβt aware of it. They make use of the traditional method of transactions to manage the money flow. In the future, businesses will start using Cryptocurrencies to pay for their services. With this, businesses will remove the middleman from various processes. And it will reduces costs and makes their services cheaper for the end user. All this will happen even when people arenβt aware of the cryptocurrencies.
Bitcoins will hit $1 million.
John McAfee has predicted a very bold thought about Bitcoin hitting $1 million by the end of 2020. He believes that, crypto currencies are the most trusted ones. Once the Bitcoin takes over the global economy, the demand will increase and the traditional dollars will no longer be needed.
The owner of Snapchat, Jeremy Liew and Blockchain co-founder Peter Smith predicts that by 2030, the price will have reached $500.000.
In the future, Bitcoin will act as Remittances for many people.
Lack of knowledge can make the people buy Bitcoins as a safer mode of investment similar to Gold.
With smartphone transactions, half of the world will march towards non-cash transactions by the year 2030.
Cryptocurrencies will replace Fiat currencies.
According to Draper, one of the Crypto Enthusiast has recorded his view on the same. He says fiat currencies will disappear as people will start marching towards cryptocurrencies like Bitcoin, Ethereum, etc. The major reason for this adoption is people believe cryptocurrencies as the reliable storages of value accros country borders and political aspects.
If you consider the most popular cryptocurrency, Bitcoin, it has reached the top 30 currencies list by passing the $10.000 hallmark. Thus, most of the experts predict Cryptocurrencies are here to stay by being an alternative for Fiat Currencies. Moreover, it is said that the total lifespan of fiat currencies will be at a maximum of five years.
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