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The big future for Crypto + ‘Crypto-collectible NFTs’ is getting closer
Major players are starting to hedge into Bitcoin, and this is likely to continue and bring retail buyers back into the space again too. With the value of the dollar set to suffer well into 2021, Bitcoin is (still an early) realm for investors and institutions to retain or increase their wealth. Its diminishing volatility also means it has less interest for traders and speculators.
It would be true to say that Covid-19 has given Bitcoin a boost, although in fact it was brewing up on its own just fine since the big rise of ‘de-fi’ (decentralised finance) this year.
Although this is all good for progress and adoption of de-fi, blockchain, and bitcoin, we need to keep in mind the spectre of government regulation. While this always has the potential to knock prices sideways for a while, the tech itself is pretty unstoppable. Bitcoin is here to stay. It’s more a question as to how governments around the world are going to adapt to Bitcoin (via their own ‘official’ versions of it.) Bitcoin, even limited, will likely remain something of a ‘watchdog’ or alternative for government-controlled versions of money.
But it’s likely that the enforcement and policing of Bitcoin will also improve, or the ability at least to track or ‘freeze’ amounts of stolen cryptocurrency attempting to…
