At the moment, several virtual currencies have wakened from their slumber, eager to make up for lost time. Naturally, this is the development that sector bulls have been waiting for. On the flipside, though, we’re reminded just how volatile the blockchain markets are. Thus, many observers are skeptical about this present rally.
I’m not going to pretend that I have crystal ball. Although the major virtual currencies could move significantly higher, they can just as easily disappoint. And when cryptocurrencies disappoint, they do so bitterly and painfully. Yet I’m believer that you can trust the implications behind this rally.
Sooner or later, we will see higher prices among the reputable blockchain tokens. When the crazy returns again, we’ll even see the dubious variety – the so-called sh*tcoins – reach astounding plateaus.
Why am I so confident despite the bearish phase over the last two years? Ultimately, it comes down to a simple argument: virtual currencies represent the future of investment markets due to their accessibility (i.e. availability) and convenience. No other asset class comes close.
Indeed, I’d classify traditional investment platforms like the stock market as anachronistic. Don’t get me wrong: I make my living analyzing all markets. But the overriding trend is steadily moving toward virtual currencies, for completely understandable reasons which I explain below.
Virtual Currencies and the Beauty of Convenience
Today, we make such a big deal about the digitalization of everything. And to be fair, it is a big deal.
Consider what we have and contrast it to two decades ago. Back then, we had multiple devices, each performing a distinct task: a cell phone for telecommunications, a digital camera for capturing those moments, and a music player for listening to our favorite jams.
In the modern era, all of those disparate functions now operate under a single platform, the smartphone. Furthermore, we no longer must compromise competency to acquire multivariate functionality. For instance, today’s smartphone sensors are technological miracles, easily beating out yesteryear’s digital SLR cameras.
Additionally, thanks to the massive rise and prominence of e-commerce, we have the retailer come to our house, not the other way around. With the expanding growth strategies of companies like Amazon, mundane chores such as grocery shopping have found technology: you can now sit in your home office working the gig economy while someone delivers your groceries to you.
What’s the underlying attribute behind digitalization? Convenience.
Yet I find it odd that in the traditional investing platform, we lack exactly that. Well, the rise of virtual currencies imparted a massive paradigm shift. And that cat is not going back into the bag.
So, whether we have a crypto run today or must wait patiently for tomorrow, my belief is this: it’s coming. Technology imparts convenience and no rational actor ever walks backwards.