Well, first of all i'm no soothsayer but i believe crypto will still be here. I don't think cryptocurrency is going anywhere in the next five or ten years, although I do think the crypto industry we have today will look very different from what it eventually becomes and what people think it will be. If anything, I think crypto will become more balanced, especially in the sense that the extreme volatility we have become accustomed to will gradually subside. I just need to say again that nobody actually knows what the future of crypto holds, all these analysts don't know jack, nobody truly knows, but whichever way it heads there will be some people that guessed right and will be the new self acclaimed crypto geniuses or experts.
For a long time, one of the most fascinating and frustrating things about cryptocurrency has been how quickly prices can move. You can wake up one morning and discover that an asset has increased significantly in value, only to see a similar amount disappear a few days later. We have seen periods where cryptocurrencies make astronomical jumps, creating millionaires almost overnight and convincing people that crypto is the easiest way to make money. But I don't think that will remain the defining characteristic of cryptocurrency forever.
I think crypto will also eventually become more like stocks, i mean it already kinda is, It will still have periods of growth and decline, and some cryptocurrencies will undoubtedly remain highly speculative, but the market will become more mature. The dramatic price movements that currently attract so much attention may become less common as more people, companies and institutions begin to treat digital assets as legitimate financial instruments rather than simply speculative investments.
Another thing I expect to change is the way ordinary people interact with crypto. Right now, using cryptocurrency can sometimes feel unnecessarily complicated. You have to understand wallets, networks, exchanges, gas fees and a number of other concepts that the average person shouldn't necessarily have to understand just to make a paymen. In the future, I think much of this complexity will disappear into the background.
In the same way that most people use the internet every day without understanding how servers, DNS or internet protocols work, people may eventually use blockchain-based systems without even thinking about the technology behind them. You might send money, receive payments, buy an asset or interact with a financial service without being a guru in it. I also think regulation will play a major role in determining what crypto becomes. Governments around the world are unlikely to simply allow the industry to develop without oversight and i think they will find a way to tax transactions from exchanges.
Of course, not every cryptocurrency will survive. In fact, I think hundreds or maybe even thousands of projects will disappear. As the industry matures, people will probably become more interested in projects that actually provide utility rather than projects that simply have a catchy name and a strong online community. I think cryptocurrency will eventually become something that people use without constantly talking about it.
Picture gotten from unspash:
Photo by Shubham Dhage on Unsplash
