By now, probably everyone has heard about Bitcoin, the most popular cryptocurrency – unless they’re living on Mars. Bitcoin gained massive media coverage in December 2017 when it reached the whopping price of $20,000 on many exchanges. While there are many theories of why that happened, one thing it’s for sure, the young generation loves Bitcoin and its core principles. For those who are interested, here’s an excellent Bitcoin guide we advise you to read. Even if the Bitcoin price is currently facing some downtrend – after all, what goes up extremely fast, must go down at some point – the general consensus is that BTC will hit $20k once again, with some speculating even more.
While Bitcoin is the most popular cryptocurrency out there, few people actually know that BTC it’s not the only cryptocurrency on there. If we take a look at the popular CoinMarketCap, we’ll notice there are almost 2k cryptocurrencies currently in circulation, most of them being tokens used by projects or ICOs (Initial Coin Offerings). ICOs are like the IPOs of traditional markets, the only difference being that everyone can invest in these with any amount (in most cases). And while this sounds pretty on the surface, we have to underline that not all ICOs are legit and there’s not a lot of regulation happening in the ICO space at this point. If you want to invest and want to do some research, we advise you use a crypto review website such as this ICO calendar.
Millenials love cryptocurrencies
Now that we have the basics out of the way, let’s take about millennials and their continued interest for crypto and fintech. It’s no suprise for many that millenials love crypto, it’s a technology they can relate to, it’s accesible and it’s pretty easy to invest in. Also, one of the core fundamental principles of blockchain is that it eliminates the middle man from the transactions, meaning banks or governments. Millenials love that and they are willing to invest every bit they have to support this ideal. Will these cryptocurrencies succede? Probably not all of them but we’re currently witnessing a tech revolution for an emerging market, led by millenials.
Even if you dislike Bitcoin or cryptocurrencies in general, we can’t deny their role, both on the fundamental and psychological level. More and more companies are jumping on this blockchain bandwagon day after day, which proves this is a disruptive tech, currently in its infancy, which will probably change our way of life.