Thursday, September 29, 2022

How Long Will The Trillion Dollar Currency Market Last?

Business In 2017, the value of digital assets represented by bitcoin rose rapidly. In January 2017, the price of bitcoin was still under $1,000 and almost 12 months later, the price of bitcoin in the global trading market reached the highest record, rising to $19,600, increasing by nearly 20 times.

At the same time, the prices of many other digital currencies have also increased exponentially, creating a new price record. Although many digital currencies are rising and falling frequently and it makes investors worry, the great carnival of digital currency is still in process.

On the contrary, from the perspective of the market, government, and services, the golden era of digital money is coming. From the market performance, there are more than 1300 kinds of digital currencies represented by Bitcoin, Litecoin, and Ethereum all over the world.

Through the analysis of the digital currencies’ market capitalization which ranked in the top ten on the Coinmarketcap and Beincoins website, the total market capitalization has exceeded $630 billion and the total market capitalization of the 1300 kinds of digital currencies is close to $1 trillion, and 500 billion. According to the estimation by the insider, the total market capitalization of digital currency in the world will be $3 trillion by the end of 2018.

Some market participants, such as Ronnie Moas (the founder of Standpoint Research) said that the price of bitcoin could reach $400 thousand and its market capitalization will reach $1 trillion. Maybe the bitcoin banks and ATMs all over the world are the best proof.

However, the capitalization does not include the market capitalization of other competitive digital currencies with good market performance and many investors. Rising prices will bring more and more investors into the digital currency market, and pour unlimited power into the market. According to reports, at present, more and more countries represented by the United States, Britain, France, Russia, Chinese, will integrate digital currency into the national financial development plan.

They hope that the standardized management for the digital currency is executed and a new impetus for the development of national and international finance can be found, according to the discussion of the feasibility, potential, and development plan of digital currency.

A survey by IBM shows that more than 60% of government agencies are planning or are ready to make efforts to the application of blockchain technology in financial transaction management, asset management, contract management, and regulation in 2018. In 2017, the number of patents related to the blockchain in the United States had almost doubled.

The government's favor and trust in digital money will also provide better guidance, support, and help for the market of digital currency. In addition, the development of new technologies will bring new applications for digital currency.

Digital currency will be applied to more and more scenes of life, and it will bring more and more convenience to the entire social environment and national financial environment. In the future, digital currency will also play a greater role and expand more and more large markets.

To serve the market and investors professionally, the digital currency service related to the aspects of life is becoming more and more important. In many digital currency services, the exchange is the most important. Therefore, a safe, convenient, standardized, and comprehensive digital asset trading platform is very necessary.

Unite Digital Assets Exchange(Beincoins) as the backbone of the new exchange, can provide multiple transaction forms such as Coin-to-Coin Trading, and Over-the-Counter(OTC) Trading. Beincoins also provides multiple digital currency exchanges such as between different digital currencies and between digital currency and legal currency.

Beincoins is committed to strengthening the protection of user digital assets and building an open, inclusive community and ecosystem of digital blocks, according to promote the circulation of digital currency, increase the practical application ways of digital currency, and strengthen security upgrading and risk management.

How long will the trillion-dollar digital currency market last? Everyone has his prediction. The best way is to choose the right currency, secure exchange, and apply all kinds of information. It will make investors get more and more in the new era of digital currency.



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