Following the 2017 crypto bull market, the industry fell into a bear market in 2018. As far as the present market goes, Bitcoin sits in the $30,000-$40,000 range as of time of publication, down significantly from its all-time high. Time will tell whether or not the crypto market is headed for further bearishness ahead. “No longer are companies popping up with arbitrary use cases, but they are instead now thriving by adding benefits to consumers’ lives outside of the cryptocurrency realm. This all comes at a time, amidst a global pandemic, where people have had time to assess their finances, and now seek alternative routes to not only invest money, but also make money.”
Related: Texas crypto users will soon be able to buy and sell tokens at major supermarket chain In 2017, Bitcoin’s price rallied to heights just shy of $20,000 per coin. In 2021, BTC reached prices of nearly $65,000, based on TradingView.com data.
“The integration of cryptocurrency into aspects of daily life allows for room to grow and solidify itself as more than just an asset — it’s becoming a serious alternative financial system to fiat currency and people are starting to take notice,” Yu said, adding: Yu crafted his quotes in response to recent findings from the Financial Conduct Authority, or FCA, of the United Kingdom, which revealed 2.3 million U.K.-based adults own cryptocurrency, based on a survey.
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