Where Is the Cryptocurrency Craze Heading? Experts Weigh In

There has been a huge transformation with cryptocurrencies in the last two years as they have continued to rise in value across the board. For example, Bitcoin (BTC) reached a new high with one BTC being worth more than  $35,000.

As cryptocurrencies increase in value, we see more and more retailers and businesses accepting them. We have also seen a rise in the number of UK online casinos accepting cryptocurrency to gamble with. Crypto casinos are now very popular with punters, as they are more secure when gambling.

The strongest cryptocurrency is Bitcoin with Ethereum close behind. Cryptocurrencies are expected to triple in value by the year 2030, so this is certainly not a phase.

Interesting Facts on Cryptocurrencies

We have put together some interesting facts on cryptocurrencies that should help determine where the latest craze is heading.

• There will only be 21 million BTC ever created, but out of that, 3.7 million BTC has been lost forever leaving only 17.3 million that can ever be sold or accessed. This is approximately 20% of all BTC. The next question you’re probably asking is: What happened to the 3.7 million BTC? 
• Currently, only 1.3 million BTC is available to buy on cryptocurrency exchanges. 
• The BTC became legal tender in El Salvador alongside the US dollar in 2021. 
• On CoinMarketCap.com there are a total of 16,531 cryptocurrencies listed. 
• Coinbase went public in 2021, with a market cap with a total value of all shares of $60 billion. 
• The cryptocurrency exchange valuation in 2021 was $32 billion.

Reasons Why You Should Invest in Crypto

The first reason for your investment is simply because you could make a lot of money. It has been seen with many investors that purchased  BTC a couple of years ago and the experience could well repeat itself. Most crypto investors are encouraged to invest amounts they can afford to lose.

The second reason to invest in cryptos is that it is a good way to diversify your financial portfolio. Adding crypto to your portfolio is a great way to expand, especially if you are into purchasing stocks.

Conclusion 

After looking at cryptocurrencies closely, we can safely say the craze isn’t dying down and more good times are ahead if you haven’t already started your crypto journey. Although, please note there are some negatives associated with cryptocurrencies, such as that they are highly volatile and also have a questionable long-term value. However, judging from previous performances on cryptocurrencies, the risk is very much worth it.

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