In the recent Bitcoin news (apart from it crossing hte 5K US $ benchmark ) a prophetic warning has been issued by the IMF’s Lagarde. She said that the central banks globally should start taking the digital currency seriously. Well, it is true as well that the massive disruption in the currency market is just around the corner. It can hit us sooner then we expect.
Bitcoin has risen nearly 900% in last two years. Right now it is rallying at an all-time high of US $ 5800+ . Also if you look at the merchants accepting bitcoins there are some big names already aboard the cryptocurrency ship. Some od the big names are Intuit, WordPress, Overstock, Subway etc. A comprehensive list of the merchants accepting bitcoins might help you understand how deep this has gone.
Some of the bitcoin wallets are doing pretty good for themselves and newly initiated into the cryptocurrency world are queuing up at there door for business. However we feel that the reality is that Bitcoin will see few ups and down before it settles down. People will only gain faith in cryptocurrency when it is less volatile. At the moment there are a lot of financial institutions who are sitting on the fence and watching it before they jump into it.
However, the entire cryptocurrency market can start seeing a decline if the government tries reining it. And if it happens then, in the long run, just the technology behind cryptocurrency will be left behind.
