3 Reasons That Bitcoin Will Be Born From The Ashes After The Global Crisis
3 Reasons That Bitcoin Will Be Born From The Ashes After The Global Crisis.
The world has been facing the worst financial crisis for decades. The fear has become such that it is thought that the years of stagnation will never end. However, this economic turmoil will play an important role in making Bitcoin and blockchain technology mainstream.
Here are three key factors in making blockchain technology mainstream.
Bitcoin Acceptance Will Reach the Top
Critics have pushed the U.S. Federal Reserve’s decision to print trillions of dollars to help alleviate the country’s rising unemployment rate. It is not certain that this move will cause inflation; this will have a major impact on hundreds of millions of people in underdeveloped countries that rely on the dollar.
Simply put, for decades, the Dollar has been a reliable currency beyond the borders of the United States. Now with endangered hegemony, Bitcoin and other cryptocurrencies will look much more attractive as an alternative. Even before the current crisis, countries were increasingly embracing crypto. A weaker dollar fear will only speed up this process.
Safe Harbor Narrative Becoming Attractive
The current economic crisis proved that the current global monetary framework is much weaker than previously imagined. Bitcoin has offered an alternative for a long time as it allows assets to be held and used without trusting central institutions.
While the Bitcoin price drop in the past few weeks can be frustrating, at the same time, Bitcoin hodlers can relax knowing that their money cannot be seized or devalued by any central authority. This fact shows that those who have lost their trust in the old financial system will have difficulty in establishing this trust again. Regardless of the current value, in this context, Bitcoin proves to be a very safe option for the protection of assets.
Blockchain Space Will Get Stronger
Much has been done about a large number of altcoins, which provide little benefit in the crypto space. While some altcoins are useful and promising, most do not serve a unique purpose. Now is the time for a consolidation around the most powerful blockchain platforms.
The collective acquisition of the weakest altcoins will create a rally around those who truly promise mass adoption. This will benefit Bitcoin and its competitors. It will also provide clear options to institutional investors and large businesses as they try to find solid platforms to embrace. This process can be painful for some individual investors and advocates, but it will create a healthier environment for the adoption of the long-term blockchain.