Cryptocurrency have been a major topic for people and investors as of recently and this has been more true than ever in the year of 2017. The major moment that brought so much attention to the topic has been the substantial rise of Bitcoin which has grown from a few hundred dollars a unit to as high as $18,000 a unit in 2017. This was the turning point for the topic of cryptocurrency that has taken place in 2017.
Since that moment, cryptocurrency has been all the fuss in the investor community. Not only has Bitcoin been a topic, but other cryptocurrencies such as Litecoin and Ripple have also been a topic of focus as well as various brokers such as Coinbase and Binance Exchange. These elements make cryptocurrency a market in and of itself similar to that of the stock market and the currency exchange market. And as with a freshly beginning market that is only just taking off, a significant amount of attention has been placed in this potential stock market of the future.
Imagine being able to make the key investments from the beginning of the history of the stock market and making substantial gains over time. It is these types of investments that separate the wealthiest individuals from the rest. The current position of the cryptocurrency market is similar to the beginning years of the stock market which indicates a substantial opportunity for growth in the time to come; an investors dream come true.
2017 has been a big year for cryptocurrency; specifically because of its validating moment of Bitcoin reaching as high as $18,000 a unit. The security capabilities of the currency have proven their worth as they have been able to successfully maintain market transactions and records of ownership consistently throughout their past few years of operation. As a result, consumer confidence in this market is increasing and so is the aggregate value of the cryptocurrency market.
With regards to the future of the cryptocurrency market, there are several factors supporting its continued growth but also some emerging risks that may impact this as well. Among the factors supporting growth are increase consumer confidence in the market and a willingness to embrace this way of the future. Also, the big year in 2017 has attracted many to the market which is likely to increase the interest and appreciation of all cryptocurrencies in the time to come significantly; not just Bitcoin but others such as Litecoin and Ripple as well.
But there are also significant risks to cryptocurrency in the time to come as well. The relative success of cryptocurrency in the past year is also attracting the attention of the governments around the world who are watching the value of these cryptocurrencies rise relative to their own and this may attract the wrong type of attention to the market. If the governments find this to be detrimental to their own currencies, it is possible that regulation against the use of cryptocurrencies may take place and as soon as that happens, the value of cryptocurrency is almost certain to plummet.
It is for these reasons that the future of cryptocurrency is both bright and yet risky at the same time. It will be interesting to see how it will continue to pay out in the time to come.