When I discover something new and exciting, I become very interested in learning as much as possible about it. That happened when I first learned about Bitcoin years ago, and I have been keeping up with cryptocurrency ever since. My name is Agam Berry, and I am addicted to keeping up with all the trending news in regards to cryptocurrency.
2019 is up and down so far, but I am still very optimistic about the long-term outlook. Here are a few reasons why I am still all in on Bitcoin, and other emergent cryptocurrencies.
Becoming mainstream
When I first discovered Bitcoin, it was pretty much an underground world I knew very little about. It wasn't talked about by anyone on television or in newspapers. It seemed very promising though, and I was intrigued to learn more right away.
These days, it is very mainstream. Some early adopters look at that as a bad thing, but I think that is good overall. Cryptocurrency needed more notoriety for it to ever become as valuable as we are all hoping for. It also means more scrutiny, which protects people from possibly getting scammed for being naïve.
New competition
Facebook made news a few weeks ago when they announced that they are preparing to launch their own cryptocurrency. While that will add some competition to Bitcoin, there is room on the market for a few major players to exist.
New competition also means more innovation from those near the top. Nobody wants the feeling of being left behind, so users win in the end. I see this as a major positive for cryptocurrency overall, because Facebook is helping to legitimize cryptocurrency quite a bit.
More scrutiny
Again, I am a firm believer in legitimizing cryptocurrency by treating it in some ways like other forms of payment. This is the only way that it is going to get the respect it deserves.
With so much money being invested into cryptocurrency, Bitcoin and other major players are being looked into more than ever. Some people are hesitant to lose some of their freedoms, but those who are using the currency legitimately should have nothing to worry about.
There was a time when simply too many different types of cryptocurrencies were popping up. Some of them were not legitimate at all, only set up to take money away from unsuspecting people.
Increased scrutiny will help weed out the bad apples, and allow the best to rise to the top. I am all for that because a lot of people now are hesitant to put money into something they know very little about.
My thoughts on cryptocurrency in the future
It's impossible for me to guess the value of Bitcoin in the one year, let alone five years from now. With that said, there is a reason why I haven't sold it up to this point. I think it has the chance to climb in the next few years in value.