In the world of finance and investment, cryptocurrencies have marched its way forward quite evidently in the last few years into 2021. Cryptocurrencies such as Bitcoin have gravitated itself into the system of monetary transactions since its invention in 2008 and had spread its tentacles into the entrepreneurial sphere. From being invented in 2008 and to be used from 2009, the Bitcoin vogue had encountered several uncertainties. The modern phenomenon of Bitcoin has caused sundry of investors to invest their money in the hope of huge returns. In the latter half of 2017, the spike in Bitcoin worth made even more investors go frenzy.
And in 2021 Bitcoin has reached record-breaking prices multiple times, followed by some slumps like right now.
But what happened to BTC prices and adoption between 2017 and 2021?
ICOs & BTC
Investments made in 2018 in Initial Coin Offerings (ICOs) were recorded to have surpassed the rates of investments in 2017 and the crypto sector seemed to move vertically upwards. Although, that was not the scenario, since the price of Bitcoin started to fall gradually thereafter. Investors started to get worked up and also began to be skeptical about the cryptocurrency. It has to be understood that notwithstanding the current status of Bitcoin in the market, the worth of Bitcoin and blockchain value are the same as what emails are to the internet.
Here’s why entrepreneurs should not panic about the Bitcoin slump in price for 2021 and 2022.
● Distributed Ledger Technologies And Blockchain Are Drawing Investment
Institutions and corporations are still looking into DLT and blockchain for resolving existing issues. Several organizations, recognized for their global services, have opted for blockchain in order to enhance their supply chain networks, although most of them are not startups. However, blockchain projects are still funded by venture firms, with a whopping 280 percent of Venture capital (VC) investments. Also, the average amount of investments escalated by $1 million.
● Blockchain Started Small And Grew Bigger
All blockchain users once started small-scale but kept patient in expanding. Sometimes, finance companies accumulate a huge number of users and followers through which they exchange and gather money, although they have been in the market for a few years. This is not rocket science yet it requires knowledge in financing and the right strategies. Other companies have entered into the blockchain sector and created a name for them already by facilitating transactions between internet devices. The key behind receiving profits on cryptocurrency investments is to remain steady in the field.
● Technology Will Revive When The Bitcoin Bluster Dies Down
Bitcoin is still in its emerging phase but it has been encountering massive recognition, mostly because of its worth. The craze at official Website is driven in a pattern of highs and lows, where it steadily moves upwards, then downwards, and only after that its actual utilization is known. Entrepreneurs in technology, those who had an authentic and innovative idea in developing a product or service, would comply on the grounds that more than cryptocurrencies, technology will prove to be beneficial for the world. The entrepreneurs in the blockchain generation have understood that solving real-world issues and adding value to their users are more beneficial than hoping to make the ideas a success through the cryptocurrencies.
● Exiting Scammers And Intervening Regulators
In the entrepreneurial sector, scams are common when appropriate precautions are not taken during new technologies and early adoption. It's a risk everyone takes early on with new innovations. Since huge amounts of funds are generated into the ICOs there are possibilities of breach of security laws for even the authentic ones. Thus, regulators have begun to pay heed to the concept of digital currency. This is an affirmation for tech entrepreneurs as tech-based projects are still in the flow. A coherent framework for regulation ensures compatibility and lesser chances of breach of regulation.
● Blockchain Market For Jobs Are Booming
In recent times, job opportunities in the blockchain industry are booming like never before which is a remarkable thing to happen. In terms of economics, a floating job market is a good news because even if the cryptocurrency market remains slow, a feasible job market would indicate voluminous economic development and opportunities for entrepreneurs within the blockchain sector.
The Bottomline On Bitcoin Booms And Busts
Now almost a decade old, Bitcoin is still in its infancy period in terms of technology. To remember, a successful entrepreneur creates sustainable and innovative solutions to real-life problems and cryptocurrencies like Bitcoin bear no usefulness on them. Entrepreneurs need not hook on to the presumed market value of BTC prices daily, and instead can focus on the right marketing and developing ideas to cash in on crypto.
There will be Bitcoin bulls and bears, but just remember to keep your eye on the big picture!
