As 2020 has posed many a unique challenge to individuals, those in the investment industry have particularly had to retain faith in their models. For years now, cryptocurrency has become a talking point for investors and those who are looking for a more independent monetary system. However, with 2020 proving to be such a challenging year for everyone, is it fair to say that the cryptocurrency industry has suffered as much as the rest of us?
Actually, it depends on when you look at the year. For example, the year started out with much discussion about this being the year that tools like Bitcoin Era might really kick on from their previous position. However, the fact that Bitcoin rallied from a flash-crash in March to completely restore faith (alongside the stock and gold markets) means that there is a chance that investors can still make big on 2020 – despite the turbulent nature of this year for everyone.
Indeed, this year has actually found that adoption of Bitcoin is going up, not down. More and more people have clearly grown sick of the present financial system, and are looking for a means of escape. Might Bitcoin and other forms of cryptocurrency offer that?
For the many, it would appear a risk worth taking and listening to. Global adoption of Bitcoin has been slow to glacial at times, but today we find that as many as 11 million new Bitcoin wallets have opened across 2020. Indeed, even retail investment in cryptocurrency is rising at a rate many assumed would not be possible due to the COVID-19 crisis.
2020: A year of progress for cryptocurrency?
While most assumed that the financial squashing that has taken place in 2020 would mean the end of the cryptocurrency boost, it has not actually happened just yet. Indeed, the unique nature of Bitcoin means that it actually sits as one of the most enticing investments that someone could make at this moment in time. Indeed, many experts see Bitcoin taking the role of gold when comparing the next investment to wave to come to the events that took place in the 1970s.
Indeed, various major asset holders are beginning to put their futures into the Bitcoin industry as a whole. We are seeing many experts flee from normally booming markets and put their investment into the cryptocurrency industry. The fact that inflation is raising so much across the world – arguably the largest amount of quantitative easing that has ever happened – means that we are looking at a time where normal investments simply are abnormal options.
Instead, people are looking to find an investment that might be less likely to blow up in their faces in weeks, months, and years to come. And for many people, that ideal choice might just be Bitcoin. Sure, the cryptocurrency industry has had some shaky moments in 2020 – name an industry that hasn’t outside of hand sanitizer – but it appears to have come through as a good time to make an investment.
Whether it is your first or your latest Bitcoin investment, 2020 might not be the worst time to think big and invest.