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Ask CryptoVantage: What Will Cryptocurrency Look Like In 2030?

Speculating about the outlook of cryptocurrencies ten years from today can be difficult. Not only are the markets super volatile, but market trends and events are ever-changing, and no one knows what lies around the corner.

Sometimes such predictions come to pass but mostly, they are just guesses. Nevertheless, there are many circulating predictions about cryptocurrencies and their future. While some see a bright future, others see doom and gloom.

In this article, we will look at three bold guesses about the future of crypto from market experts.

Let’s dive right into it.

What is the future of cryptocurrency?

The Market Will Be Flooded with Endless Altcoins

The number of digital coins has been on the rise since 2013. Given that cryptocurrencies are unregulated and most blockchains are open-source, anyone can create a coin from scratch with minimal effort. The fact that it is easy to make a coin has led to the market being flooded by an estimated 15,000 cryptocurrencies as of writing.

According to statistics, about 775 digital coins have been created every single year since 2013. With this in mind, experts predict that the future could see a rise in altcoins most of which will have little to no value.

Already, 2021 has seen meme coins take over the spotlight as the success of popular options like Dogecoin and Shiba Inu inspire a legion of copycat altcoins to come to the fore.

Of course the opposite could also happen and there could be massive consolidation where only a handful of coins survive.

Bitcoin Could Be Global Reserve Currency

Another bold prediction about the future of cryptocurrencies is that about Bitcoin replacing the dollar by 2030 as the reserve currency of the global economy. Throughout 2021, Bitcoin has had a bullish rally with its price hitting new all-time highs albeit its volatility.

According to Alex Gladstein who is a Bitcoin pundit and the chief strategy officer at the Human Rights Foundation, “Bitcoin is a device ultimately whose aim is to replace the dollar as the reserve currency of the world.”

In Gladstein’s view, Bitcoin’s fixed supply gives it an edge over fiat currencies such as the dollar which have seen a wave of money printing by the federal reserve.

“You look at the Federal Reserve or the European Central Bank’s balance sheets, it’s remarkable how much new money is being created. It’s historic,” Gladstein added.

Bitcoin provides an alternative to central bank-issued currencies as it is decentralized and therefore not controlled by any central authority. In Gladstein’s prediction, it could take decades before Bitcoin replaces the dollar as the world’s reserve currency however, the process is inevitable.

Gladstein believes that governments’ self-interest will drive them to adopt Bitcoin as a superior store of value and the hardest form of money.

Cryptocurrency Will Be More Regulated

Cryptocurrency remains highly unregulated, and conversations to make this a safe place for all investors have been ongoing.

Clear and forward-thinking regulations will make the cryptocurrency space less appealing to cybercriminals and increase protection for crypto enthusiasts, developers and investors. Going into the future, experts predict an increase in regulatory attention over the entire crypto space.

Already, regulators in the Us have issued a statement highlighting a plan to increase supervision over crypto-related institutions.

As crypto adoption increases, regulators are starting to pay attention to the industry to counter anti-money laundering and illicit finance operations.

The FATF (Financial Action Task Force) has also recently issued a set of guidelines that are designed to help jurisdictions across the globe define and formulate laws for cryptocurrencies and crypto-related service providers.

All this points to a future where cryptocurrencies will go mainstream but with the full supervision of regulators.

Conclusion: Crypto Isn’t Going Away

Cryptocurrencies are making a wave yet it has only been slightly over a decade since the advent of Bitcoin. While it is hard to predict with precision exactly what the industry outlook will be 10 years from now, current events offer viable clues of what the future will be.

As it is at the moment, regulators are paying more attention to the industry, more crypto-based projects are emerging every day, and Bitcoin is primed more than ever to replace the dollar.

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Jinia Shawdagor

About the Author

Jinia Shawdagor

Jinia is a fintech writer based in Sweden focused on the cryptocurrency market and blockchain industry. With years of experience, she contributes to some of the most renowned crypto publications such as Cointelegraph, Invezz and others. She also has experience writing about the iGaming industry.

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