Updated 24 Feb, 2021

Zeply: An Outlook on What the Future Holds for Bitcoin

Ever wondered what the future looks like for Bitcoin? The perception of cryptocurrencies is changing as the current pandemic has made us all change the way we look at the world. We are altering the ways we interact with people, how we consume and make investment decisions. Already before the pandemic, there was a shift from paper currency and coinage to other means of payment. But at the beginning of 2020, we saw a sudden decrease in person-to-person contact which meant that also the usage of physical currencies decreased. This has created more interest in digital currencies such as bitcoin as they could potentially be a part of the solution to safe consumption.

The pandemic also brought about a recession and unemployment rates are soaring all over the world. This has led people to look for other methods as a store of value. Cryptocurrencies are thought to offer a safe medium of commerce, value, and protection against inflation.

Amidst the global pandemic, governments are struggling with the health crisis as well as the financial catastrophe that follows in its wake. More money is required to implement the safety measures issued by governments worldwide. Heavy taxation supplements this deficiency, which has repercussions on the purchasing power thus creating a cycle headed for financial devastation.

Bitcoin Answers to the Crisis

How do the cryptocurrencies then fit in with the ongoing crisis? As governments must take more loans and increase taxation, people are more inclined to look for alternative answers. Centrally governed money institutions are thought to be more unreliable than ever and decentralized solutions are sought after. The decentralization and the blockchain technology that bitcoins use offer the possibility of immutable transactions and safety for both parties involved in a bitcoin transaction. This can also decrease the risk of identity theft and fraud in the future.

Also, investors are looking more into blockchain technology and its benefits. The fixed supply of bitcoin and its deflationary characteristics are alluring more investments to bitcoin.

Is Bitcoin the Safe Haven for the Future?

A safe haven stands as a secure investment in moments of market uncertainty. As the market is volatile due to ongoing events, cryptocurrencies are looking more appealing than ever. The forecast behind Bitcoin presents it as the currency that will act as a safe haven for investors now and in the future. The safety BTC ensures for coin holders would back this argument. As cryptocurrencies cannot be seized by governments, they are not as vulnerable to changes in the market or world events.

However, there are still counterarguments. Comparing Bitcoin to other safe havens such as gold can give us a small perspective on the matter. Gold has been the safe haven of investments for thousands of years and accepted globally. Which some consider being unattainable for any other form of investment. Bitcoin also faces heavy competition by other cryptocurrencies even though they have not measured up to be its rivals as of yet.

Ready to Unlock Digital Value?

Don’t miss the opportunity of joining the future of investments and digital currencies. With Zeply, you can buy, send, exchange and store Bitcoin instantly and most importantly, safely. Step into the future and join the cryptocurrency movement today