Created as a currency that will work out of the banking system, the Future of Cryptocurrencies will forever be online. It was easy to mine Bitcoins during its infancy stage; its price was also low. Nowadays, mining Bitcoins has become hard; although its price has gone up. Governments and speculators need to predict the future of cryptocurrencies.
Cryptocurrencies
There are multiple cryptocurrencies in the cryptocurrency market. Coinmarketcap.com tracks the market activity of 857 crypto currencies. Recently added cryptocurrencies in this market are AdCoin, OX Fina, Potean, Dalecoin, and ElectionChain.
The website added 17 new cryptocurrencies on its platform in the past one week.
There are mineable and non-mineable cryptocurrencies; most crypto currencies are minable. Speculators prefer mineable cryptocurrencies as their prices have a high probability of rising because the supply of new coins will reduce. Small scale miners will be at a disadvantage when mining cryptocurrencies become hard over time. Large scale miners will benefit from economies of scale when the mining of cryptocurrencies such as Bitcoin becomes hard. Currently, the average return on investment when mining using cloud mining platforms such as Genesis mining is one year.
Cryptocurrency price rise
The prices of cryptocurrencies such as Bitcoin, Bitcoin Cash, Ripple Dash and Litecoin will continue to grow because these are top cryptocurrencies by market capitalization, they are reputable, they are minable, and they are accepted as a mode of payment by many merchants.
Cryptocurrencies are also expected to rise as mining them becomes difficult and as the supply of new coins continues to reduce.
Other factors that will help increase their price is the growth in the number of speculators; especially people who invest in stocks, Mutual Funds and in government securities. Managers of mutual funds may also invest in cryptocurrencies because returns are much higher compared to other investment options that are available.
Also, the number of cryptocurrency users continue to rise as the market penetration of this currencies is low. The number of merchants accepting this coins as payments also continue to grow.
What is needed to secure a better future
Government regulation will help secure a better future for cryptocurrency miners. Regulation will ensure ethical compliance by the creators of cryptocurrencies; it will protect users of these currencies and eliminate the presence of fraudsters and hackers.
Although it will be difficult to regulate every coin because it can be created from any part of the world, regulation will increase the market confidence of this coins as well as their acceptance and participation by the public.
