The future of cryptocurrency- Why we've never been this confident

oghie (60)in #bitcoin • 6 years ago (edited)

Hello everyone, @oghie here.

Presently, this is the right time when we realize that cryptocurrencies has the ability to make our dreams come true.

I remember vivdly when a friend of mine wanted to invest in Etheruem. It was quite difficult and confronting to voyage a developer-centric space. Where as the technology is rebellious, at that time crypto's were still amatuer and lack some basic infrastructure to create advanced complaint financial applications were'nt available. I thinkl this was the whole idea behind ethos- practically to eliminate the design and technique that were restraining cryptocurrencies back from being the game changer.

Presently, ethos has grown massively into an international invasion ranging from thousands and millions of individuals across different countries all over the world.

In other words, incase the person reading this is still confused and perplexed what cryptocurrencies are.

Cryptocurrency is a digital currency that was formed and managed via the use of sophisticated encryption formula's which could also be know as cryptography. Cryptocurrency made it's fame from being an academic perception to authencity when bitcoin was created in 2009. When Bitcoin or BTC (popularly used by traders) came out it attracted a huge number of users. It aslo attracted investors as at April 2013 where it was valued for about $266 per BTC. In no time again BTC topped the market value of over $2billion approximately. This made it a topic for everyone and it was also debated as the future of this generation. All thanks to the Genius, Satoshi Nakamoto who created this new currency called Bitcoin.

Currently, Bitcoin is experiencing high volatility that it maybe caused by the recent SEC impediment to create the first bitcoin ETF, or exchange traded fund. Some people in the crypto community were confident about the U.S. Securities and exchange commission positive decision that this hope drove the price, allowing bitcoin to reach its new all time highs. Then, the SEC announcement about its decision to reject the Winklevoss’ proposal affected the bitcoin and other digital currencies market, but - after a first drop - the greatest part of the digital currencies are currently experiencing new highs. Right now, Ether, or the cryptocurrency that fuels the Ethereum blockchain, reached its new all time high with a price of $40 at present time. That said, leaving aside the price-related matters, the SEC decision opened another important question: can bitcoin and other digital currencies survive without any approval by institutions? Is it true - as said by Bank of Canada - that it cannot reach a massive diffusion without any formal regulation?