With every action, there is a reaction. Nothing could be truer for crypto currency than this statement. Suffice this currency still being in its infancy stage, it has delivered huge ripple effects across the market. And its influence is now not just in the digital market space, but across the globe.
Change in how people invest
It is no secret that Wall Street hosts some of the richest individuals on the planet. The simple reason for this is that the stock market has huge profits. But only people who can adapt to new methods of trade survive in this market. For this reason stock broker, investors had to adjust quickly to how crypto currency works. It was not like traditional market items, no! Digital currency was far too volatile. There was no true way to predict the stock or even read it as many stock experts do.
But after a quick change of tactics, it is evident stock experts came up with a winning formula and hence the millions of profits especially in the primary assets like Bitcoin.
More online transactions
Source: blockchain.com
Bitcoin by itself has an average of 300,000 transactions in a day. This includes buying things and people storing value. Another stat shows that Bitcoin transacts over $1 billion on average every day over the past six months. This by itself is a huge leap by any standards. With Bitcoin just one of the hundreds of crypto currencies it is clear that more people are opting to use crypto currency more than ever. It is only a matter of time before this figure grows.
More than 800 crypto currencies present
The beauty about business is competitions. Ethereum and Bitcoin must have thought that they would be the only once in the niche, but with people noticing how much profit and money these two companies are making more than 800 entries have entered into this market. This is an incredibly high number of companies which has to lead to our next point.
Security and trust in money matters
Crypto currency is somewhat pulling from both ends of this spectrum of security and trust. On one end of the block chain system, the online transactions are more secure hence more security. And on the other end, more people use crypto currency to buy illegal things hence reducing the trust in the crypto currency.
But the tech used has raised questions about this problem with governments, even coming in to try and help the state of affairs.
Crypto currency is controlling the market
The top commodity controls the market. For a long time, those commodities were gold and oil. In trading commodities and the US dollar in currencies. This is because these items were the most powerful; and stable.
But though not a stable crypto currency is fast rising to be the most powerful currency. We see today a shift in crypto currency creates an overall change in the whole market.
