The bear market seems to continue without any end in sight. But we have compiled for you five reasons why you should not worry about the numbers. Forget the market caps, forget the charts and forget the prices. Here are five reasons why we remain bullish on crypto in the long term.
1. Many African countries and Venezuela proof that cryptocurrencies are viable
Countries with an unstable infrastructure, high inflation or a volatile legal currency proof that cryptocurrencies are a viable option to fiat money. Whether it is BTC, ETH, XRP or any other coin. For many people, crypto is a legitimate option. Easy to use, fast and secure. And for these people it is definitely a plus that their money cannot be tracked, seized or manipulated easily by their governments, corrupt cronies or by embezzling bankers. If crypto is a viable option in these unstable countries. It is of course anywhere.
2. Top talents are attracted by crypto
Talents are ditching top companies for crypto projects. Almost every day you can find news about top talents from various sectors that are leaving their company to join a start-up or a crypto project. And we are not talking about your average developer that works for a small-sized software firm or the accountant from your local bank. But we are talking about top talents and some of the brightest minds that our societies have to offer. Whether it is the financial industry or the tech industry. Working in the crypto sector is exciting, challenging and it pays well enough to compete with global players.
3. A financial crisis is looming ahead
If you follow financial news just marginally beyond the crypto space, then you will know that the markets are nervous about the next crash. Debt in many leading states is as high as ever. Never in history were states as highly indebted as today. But also private persons are highly indebted. From companies to workers. From pensioners to single parents and students. Everyone has debts. In addition to that, by the end of this month, we will be in the longest bull market of the post-war period. A recession is overdue and this time it will hit us harder than in 2008. Bad news for fiat, good news for crypto.
4. The networks expand calmly but surely
It is yet too early to call that any cryptocurrency has broken the barriers of the crypto space into the mainstream. But they have made it into the worldwide media and they are part of the agenda of global world leaders as seen during the G20 summit. Tron bought BitTorrent, the biggest institution in file-sharing, Microsoft develops and offers commercial products that are based on Ethereum’s blockchain and Ripple is steadily expanding its partnerships while hiring great personalities like Snoop Dogg and Bill Clinton for its marketing campaigns. Of course, this doesn’t mean that all these crypto projects cannot fail anyway, but collaboration with the existing industry proves that crypto is more than just hot air.
5. Cryptocurrencies are changing the way we work, cooperate and live together
The great promise of decentralization of less hierarchy, customer- and worker-friendliness and less bureaucracy has yet to be fulfilled. But every now and then, we can see what this decentralization means. The rivalry between Bitcoin and Bitcoin Cash might seem counterproductive for the adoption of cryptocurrency. But it is endlessly better than any central bank dictating what kind of policies should suit us all. Crypto projects with their strong community interaction are leading the way to how future companies will be organized. Direct and fast communication with equally fast decision processes, while being more democratic than traditional companies have ever been. Even the way charity is organized has changed essentially through crypto. All of which should let us conclude that the benefits are far too big to just ignore and continue without them.