The topic of cryptocurrencies has many discrepancies, since, just as there are many important figures who promote these digital currencies, there are many others who are completely opposed to their development.
For this reason, many people wonder if cryptocurrencies are good long-term stores of value, or if they are simply not worth investing in. Next, we will explain what are some factors that slow down the adoption of cryptocurrencies and what are the reasons that will allow their expansion.
Some think that cryptocurrencies are very speculative assets
It is no secret that there are many people who do not like the idea of cryptocurrencies, since they think that “they can threaten the monetary sovereignty of any country”, as mentioned by the senior adviser to the former director of the International Monetary Fund, Christine Lagard.
Some crypto skeptics think that it is a very speculative asset, others think that they have been created solely for criminal purposes. Andrew Bailey, Governor of the Bank of England warns that when buying cryptocurrencies what will happen is that all the money invested will be lost.
Many assure that cryptocurrencies are still the future
But, just as the price of Bitcoin fell considerably, after a few days it began to rise and was recovering some value, reaching around 36 thousand dollars. This is how many promoters of cryptocurrencies assure that, although this famous digital currency has collapsed, for various reasons, over time it will recover its value and become an excellent long-term investment opportunity.
Jack Dorsey, CEO of Twitter and Square, is one of those who think that nothing and nobody can stop Bitcoin, as is Changpeng Zhao, CEO of Binance, who thinks that cryptocurrencies exist to offer greater “freedom of money”. .
Some known as investment giants believe that Bitcoin is an asset to invest, as Goldman Sachs said.
Institutional support has grown
Some of the reasons that cryptocurrencies continue to be the future is the increase in investments by institutions, in addition, there will be more and more tools that will facilitate the management of the cryptocurrency system and there will be more offers that will benefit users.
All these seem to be enough reasons to attract more users in the long run. In fact, in Latin America there has been an increased adoption of cryptocurrencies, especially in the first 4 months of the year; and although it is barely recovering from the previous fall, experts say that it will soon reach mass adoption.
Recently the easyMarkets broker surprised with the launch of a new μBTC account, with which its users can deposit and trade CFDs with cryptocurrencies on all the assets that the broker has to offer.
The μBTC account creates a Bitcoin wallet address automatically, allowing easyMarkets users to quickly deposit, trade and withdraw Bitcoin whenever they see fit to make a transaction.
Factors that slow down the adoption of cryptocurrencies
Apart from crypto-sceptics, there is a part of the population that is still very uninformed and does not dare to invest with cryptocurrencies because they do not know how it works and its benefits.
Other reasons that slow down the adoption of cryptocurrencies are the numerous regulations and restrictions by many governments on financial institutions and companies that want to operate with cryptocurrencies.
In addition, the great volatility of Bitcoin generates a lot of distrust, since, just as you can win twice the amount invested, you can also lose half of the fund in a short time. As in previous weeks, after reaching a historical record with a value of more than $60,000 in April, its price fell to $30,000 in May.