Things may not be quite as ostentatious as they were in 2017, but cryptocurrencies are having an outstanding year. Not only has their collective market cap quadrupled since the start of the year, but they are enjoying bullish sentiment on many fronts. ( In macro look)Whether its the unmistakable entrance of institutional investors into the crypto space or the fact that you can buy a latte with Bitcoin, cryptocurrencies are undoubtedly trending higher. Even Facebook, the worlds most popular social media platform, is entering the fray, introducing its cryptocurrency, Libra to its 2.5 billion users.
Consider these growth metrics for the crypto sector:
84% of respondents to a PwC executive survey are dabbling in cryptos underlying technology, the blockchain
89% of the U.S. population has heard of Bitcoin, a 12% increase since 2017
11% of the U.S. population has invested in a cryptocurrency
34,660,975 people have created a blockchain wallet, a number that has risen every quarter since 2016.
More info and source hereTaken together, its clear that crypto is making significant inroads at many levels of financial and technological space. And yet, obstacles remain to crypto investment markets becoming normative and broadly accepted. Even though cryptos are outperforming every other major investment vehicle in 2019, including stocks, bonds, gold, and oil, they remain a fringe industry.
What do you think is the real reason Crypto is not becoming Mainstream?
I think Crypto is hardly entering the mainstream simply because our society is not ready yet for this kind of monetary system. Besides, due to some issues on government like the prohibition of this technology is having really a big impact. Could be one reason is that Crypto is too abstract. Though investors who have already experienced using this in their transaction there are still a large number of people who have to prefer to invest in physical objects such as golds. Therefore. there are lots of factors that could still affect Crypto upon entering the mainstream but if we will give some more time for people to understand I am pretty sure that this will eventually become mainstream.