Cryptocurrency is a growing phenomenon, with more people investing in it every day. While it is still relatively controversial for many, several experts already believe that the crypto market will be different in the next decade—and that’s impressive given how quickly things move in today’s world.
Please read this article, and we will walk you through our predictions about what will happen to the cryptocurrency market in 10 years. From its potential to become a mainstream form of currency to its impact on the global economy, you won’t want to miss what these experts have to say.
Prediction #1 – Rise of Defi Wallets
Defi (decentralized finance) wallets have been around, offering users a method to keep their digital tokens safely or transact without having third parties or mediators. However, experts predict it will leap in the upcoming years as more people acknowledge how wallets give them complete custody of their private keys and digital assets.
There are even predictions on which Defi wallets will become prominent in the next decade. But the bottom line is users will entrust their resources to applications in which they can ensure to find at least the following features:
- Supports assets they have
- Compatible with as many devices as possible
- Offers security features, such as biometrics, encryption, and two-factor authentication
- Offers affordable and reasonable service charges and gas fees
Prediction #2 – Greater Adoption of Cryptocurrencies by Businesses
As time passes, more companies will recognize how crypto-enabling businesses help the economy thrive. With that, researchers have found that people are increasingly interested in using cryptocurrency as a form of payment. This expansion is expected to continue in the next few years.
Businesses are also becoming more interested in whether or not to accept cryptocurrency payments, and owners who have already taken the plunge are finding positive outcomes.
Despite the curiosity from both sides of the transaction, cryptocurrencies have a long way to go before becoming a frequently utilized payment method. Experts recommend establishing immense study and understanding into these digital assets in order to remove a substantial barrier for many customers.
Prediction #3 – Emergence of New Generation Cryptocurrencies
Analysts believe digital currencies are here to stay and will continue to grow in popularity over the next few years. In this generation, cryptos–such as Bitcoin and Ethereum–have led the industry in terms of trading volume, market cap, and price. While this is true, many experts believe that there will be “new generation cryptocurrencies” set to dominate the future.
The forthcoming batch of coins will soar exponentially since the strong crypto rate of adoption has resulted in the creation of an increasing number of cryptocurrencies. As of now, some stablecoins and shitcoins are likely to make a name for themselves.
Prediction #4 – Decline in Standing of Top Cryptocurrencies
In keeping with our prediction, we anticipate a significant shift in the list of major cryptocurrencies. Some digital assets will undoubtedly perish, and others will emerge to take their place. Plenty of growing crypto could potentially take the position of the ones on top right now.
They will thrive because they deliver real-world answers and are supported by intelligent marketing strategies. We observe more people adopting their criteria in choosing their next investment because of a crypto’s newness, supply, attractiveness, and utility, among other factors. Hence, we see that if the top digital assets we have right now can’t keep up, they may not be able to stay in their place for long.
Prediction #5 – Nearly 30% of the World Population will Invest in Crypto or Stablecoins
According to current reports, the world population has recently surpassed 8 billion people. Market analysts discovered that a fraction of worldwide internet users possesses crypto, with most ownership tilted toward nations suffering hyperinflation or volatility of their national currency.
They also forecast that Bitcoin, a leading cryptocurrency, will reach at least 10% of investors globally. This is a massive leap from the present 4.2% overall crypto investors.
Simply said, they have predicted crypto-adoption rates in as many as 150 nations in the following years. Although there will be countries where it is impossible to determine the extent of crypto ownership for various reasons, it will undoubtedly continue to increase worldwide.
The cryptocurrency market is snowballing, and with that comes much speculation and FUD (Fear, Uncertainty, Doubt). While there is plenty of uncertainty around the future of cryptocurrencies, including market volatility, many experts believe that they have real potential. If you’re interested in jumping on the bandwagon or just keeping up with current events, I recommend checking out some of these articles to learn more about this fascinating topic.