Cryptocurrency prices are being ridden hard by bears since they hit their peaks, however, according to Nigel Green, founder, and CEO of deVere Group, moving forward crypto bulls will be proven right.
Crypto is the Biggest Shakeup since Global Financial Crash
Since Bitcoin and cryptos hit the peak in December 2017, the market has been ridden hard by the bears. Now, Bitcoin is expected to drop below $3,000 with no bullish signs predicted for 2019. However, it is only a short term view as experts and analysts have repeatedly shared.
Now, the similar thoughts are further presented forward by deVere Group founder and CEO, Nigel Green. In his Forbes post, he shares that cryptocurrencies including Bitcoin, Litecon, Ethereum, and XRP are “the biggest and most fundamental shake-up in the financial sector since the global financial crash of 2008.”
It has been 10 years since the leading cryptocurrency is in existence, launched in response to the global crisis, and during this period it went through severe ups and downs. Moving forward, Green says there are few key drivers that explain, “why they are inevitably the future of money.”
Cryptos have Already Changed the Way the World Handles Money
The world economy is increasingly becoming digitized, so much so that “digitalization is now widely hailed the ‘Fourth Industrial Revolution.’” Being digital in their “very nature,” cryptocurrencies future certainly looks bright.
Globalization and Decentralization are the other reasons. Cryptocurrencies are not only borderless but unlike fiat currencies are not controlled by the central banks or governments. Moreover, crypto and blockchain provide real-life workable solutions in sectors ranging from retail, finance, real estate, tech, and healthcare.
Green provides the instance how Ripple is “becoming best-placed to develop into a principal global implementer of transfers by foreign individuals back to their home country in the form of remittances.” Hundreds of banks and financial institutions across the world are working with crypto and according to him, “this is a trend that is set to continue and grow.”
International regulation of the crypto sector, at this point, is “inevitable.” With some countries moving toward self-regulation and others planning their own digital currencies, the moves are been made.
Surveys had shown that millennials are increasingly interested in cryptos with twice as likely to buy cryptos as well. Crypto adoption among the younger generation is high it will be another factor driving the crypto adoption and future. Now, the dear old, FOMO, Fear of Missing Out, from the public and financial institutions.
“Amazon was to retail what bitcoin is to banking, perhaps. Indeed, cryptocurrencies have already changed forever the way the world handles money, makes transactions, does business and manages assets.”