Keep up to date with the Digital Economy news and reviews – Cryptocurrency and the blockchain will change our world forever.
Consumer, Investor and Institutional adoption of Bitcoin continually increase as the Bitcoin price and value trends upwards. Many new cryptocurrencies are flooding into the market pushing the total marketcap $600Billion and beyond. ICO’s (Initial Coin Offerings) are in the spotlight as the SEC hunt down ICO’s in breach of securities law. China and other countries have banned ICO’s all together.
Our world is changing – there is much uncertainty and instability in the markets but the appetite for cryptocurrency is increasing. Here are the top ten drivers of the Bitcoin price to consider… the Fundamentals.
Here are the Bitcoin Price drivers:
2. Developer Adoption
3. Consumer Adoption
4. Merchant Adoption
5. Institutional Adoption
6. Media Adoption
7. Regulatory Adoption
8. Government Adoption
9. Investor Adoption
10. Geo-Political Factors and Financial System Risk
We can benchmark any other crypto against these drivers too. Cryptocurrencies with strong use cases will deliver growth and increase in value. For example, Bitcoin is a proven store of value and payment system; Ethereum for Smart Contracts being adopted by the business community; Ripple for cross-border payments between banks and financial institutions globally; and newcomer EOT, “Encryption of Things” for the encryption of devices or applications connected to the internet IoT. Cybersecurity is a real threat to the digital economy – Cryptography, EOT, is being used in encryption thus Protecting the Connected. These are just a few cryptocurrencies that have a purpose other than for speculation and investment.
During December 2017, the Bitcoin news driving speculation and institutional adoption is that the Chicago Board Options Exchange (CBOE), become the first major options exchange to list Bitcoin Futures early in the month, attracting demand from institutional investors and retail traders. CBOE followed by the CME Group which is a much bigger player in futures trading. Can we expect higher Bitcoin prices as other options exchanges list Bitcoin Futures and more institutional investment is on the rise?
Blockchain technology is gaining traction across various industries such as Real Estate, Shipping, Media, Music, Film, Contracting, Trading, Government Services, Smart Cities, Tourism, Banking, Voting, Social Media, The Internet of Things, Registrations… to name but a few.
Some Buzzwords gaining traction FinTech, RegTech, InsurTech, DefTech… keep your eyes on our new digital economy!
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