23.02.202111:05 Forex Analysis & Reviews: Evaluating cryptocurrency through technological breakthroughs

Global e-commerce was rising by 19% per year and managed to reach $ 6.5 trillion before 2020 ended. The digital/mobile wallets were rapidly becoming the preferred payment method in e-commerce, although they were forecasted to fail. But now, they are projected to occupy 52% of the market by 2023.

In this context, blockchain technology and crypto assets began to gain popularity again. As the trade war between the US and China strengthened in 2019, governments around the world began to explore the possibility of digital currencies in response to the growing political and economic instability caused by the fluctuations in the US dollar and its impact on international trade. Moreover, the younger generation found the financial technology world more attractive and promising, since blockchain technology ensures data security and reliability.

Some cryptocurrencies/tokens, such as Bitcoin, have started to provide various types of value proposition as an investment in an asset that has generated large returns. At the same time, the majority hailed the underlying blockchain technology as revolutionary. It should be recalled that the cryptocurrency has been heavily criticized due to its growth.

Elon Musk, Tesla's CEO and Bitcoin investor, warned people not to invest their savings in cryptocurrency. A good investor who understands how the crypto ecosystem functions always advises investing only 1-5% of their disposable income in it.