Where is the Crypto Market Headed in 2021?
The widespread adoption of something leads to its failure and collapse. Nokia is the best example we can learn from. Nokia ruled the mobile phone industry for years and its phones were available for everyone, from rich people to the downtrodden segment. But today, we hardly see a Nokia phone in the market. Nokia fell victim to its own success and widespread adoption.
Reasons for Sustained Apple Success
The reason why Apple has been doing well for a long time is that its phones aren’t for everyone; only wealthy people can afford Apple devices. The widespread adoption of a company/brand causes its downfall.
Since Cryptocurrencies haven’t become so common yet, it’s safe to say that cryptocurrencies still have a long way to go. The crypto industry hasn’t reached its peak point yet. So, the future of cryptocurrencies is bright, and the coming years will be breakout years for the crypto industry.
Are Cryptocurrencies Really Decentralized?
However, for many, cryptocurrencies aren’t decentralized. Being decentralized means no one can manipulate or take advantage of anything. But we have seen Elon Musk exploiting cryptocurrencies for personal gains.
Other billionaires will also follow Elon Musk’s footprints to earn big profits without any effort. Now is the right time to invest in cryptocurrencies as other business tycoons like Elon Musk may be gearing up to earn from cryptocurrencies.
Introduction to Cryptocurrencies
A crypto-currency, cryptocurrency, or crypto is a digital currency aimed at serving as the medium of exchange where coin ownership records are validated and stored in a ledger. Although it’s been more than a decade since Bitcoin was launched, still the majority of people don’t understand how a cryptocurrency works. This is because many people view it as gambling; you can either earn huge or lose everything in the blink of an eye.