Cryptocurrency - The Opportunity of a Lifetime
Financial freedom is having enough income to pay one's living expenses for the rest of life without having to be employed or dependant on others.Investing is usually seen as the main source of the financial freedom.
Cryptocurrencies are seen as a potential for achieving financial freedom. This is because they (as well as Blockchain) bring positive changes in realms such as payments, transaction processing, as well as record keeping.
While technology is a driving force behind the value that cryptos bring there is no doubt that a lot of the users are investing into cryptos in order to generate income. And that is asbolutely fair since it’s an early technology so early adopters should be rewarded.
As we have seen many times before Bitcoin grows in cycles and those cycles also affect the price of the other cryptocurrencies. Ultimately however we have observed that in the last 10 years of Bitcoin existence that the trend is up.
The last bullish cycle lasted almost 2 years and ended in December 2017 with a price of almost 20k. Since then the price corrected to
almost 3k in December 2018 - since then it has been quickly recovering
The recovery has been very quick and has been destroying any resistance and main milestones on the way truly showing that the bear market is over. In this video I will look at the indicators on why we can expect significant gains in the upcoming years.
Litecoin halving is happening this year with Bitcoin halving following next year. Halving means decreased supply of the tokens. This usually results in increased demand for the existing tokens which as a result affects the price.
In the past for Bitcoin halving was a catalyst for crazy growth so this is something that is also expected this year.
The second biggest cryptocurrency Ethereum will have a major update called Ethereum 2.0 which will introduce new system which further should reward holding the tokens called proof of stake. And many other cryptocurrencies are also making progress.
Cryptocurrencies have opened up a new world for several people in parts of Africa, Asia, and South America,
who until now, remain unbanked or underbanked.This is especially important in countries struggling with inflation
where the money is quickly losing value. This opens a new market for buyers.
The global market uncertainty could also push cryptocurrencies to levels not seen before. During economical struggles a lot of investors are looking for non-fiat investments like gold, shares, stocks and now also crypto.
Upcoming investment platforms like Bakkt, Fidelity and more will be another factor that will allow huge money to flow in crypto.
Blockchain provides a lot of potential where governing bodies record real estate ownership details using blockchain,
accumulated holdings as well as details surrounding sale of properties. All of that completely transparent,
for both buyers or lenders. This would minimize instances of property dispute significantly.
The adoption of blockchain technology by the healthcare industry can result in solving multiple problems. For instance,
blockchain provides the perfect platform to create health information exchanges.
Internet of Things (IoT) working with Blockchain is an aspect that is fast entering our everyday lives,
through a range of home appliances and devices.
There are, in fact, smart cities that rely on internet-enabled applications in areas such as transportation,
controlling traffic, infrastructure management, and even garbage collection.
Blockchain technology-based frameworks can give self-organized societies the ability to make collective public decisions and improve performance of authoritarian roles.
However the main cryptocurrency use case is payments. With traditional payment systems, contracts are typically fulfilled upon the meeting of preset criteria followed by validation by central authorities.
Blockchain-based transactions, on the other hand, rely on contracts stored in public ledgers that circumvent the need for
middlemen, and fulfilling contracts between two parties takes little time. with better privacy.
If you add all of these it is obvious that cryptocurrency isn't going anywhere.
It's a new technology, still in a very early phase.
Like with any early investment opportunities this is where early adopters will be awarded with potentially live changing money.
Short term corrections are expexted but long term (years) good projects will flourish.
What should you invest into?
It all depends on how much risk you would like to take.
I would say that Bitcoin and Ethereum are two must haves
but other less popular altcoin gems are the ones that will generate most gains.