My knowledge about cryptocurrency future

Assalamualaikum

Greetings to you all!
Cryptocurrency future is most unpredictable thing but I can talk about it by keeping in mind some of the knowledge that I have about current happenings.

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There are multiple factors that can affect the cryptocurrency features and these are technology developments some regulatory changes and demand and supply dynamics of market but according to me there are most possible trends and predictions about cryptocurrency future I am going to share.

Increased mainstream adoption

There are different cryptocurrencies such as Bitcoin and Ethereum are becoming more widely accepted like other methods used for payment and for assets investment.

Improved scalability and usability

There are multiple advancements in the field of technology that can make cryptocurrencies most faster, cheaper, and easier in their utility.

Enhanced security

Advancements in field of cryptography and blockchain technology can be a way of improving security and integrity of transaction of cryptocurrency.

Regulatory clarity

Significant guidelines and frameworks can be made by Governments and financial institutions regulation of crypto.

Increased competition

New cryptocurrencies and blockchain projects are emerging we all know with time so it is really becoming very challenging for those that are existing players.

Greater focus on decentralized finance

Cryptocurrencies can play their significant role in decentralized lending, in process to borrow, and in different services related to finance.

Improved environmental sustainability

I can see in future that there are much efforts for reducing environmental effects of cryptocurrency mining and by this traction can be gained by transactions.

Increased institutional investment

There are multiple institutional investors like hedge funds and pension funds, that can enter into the crypto market.

Global economic impact

Cryptocurrencies can significantly play it's affecting overall global economic policies and also the transactions.

Continued volatility

There could always be significant price fluctuations in cryptocurrency as it is affected by many other factors and market fluctuations.

Example that I am giving for explaining my some points authenticity

Day by day increased adoption of Central Bank Digital Currencies in comparison to traditional currencies.

In upcoming future, central banks at international level can launch their own digital currencies referred to as CBDCs. These cryptocurrencies can be backed by proper credit of the issuing government, and CBDC can provide:

• Most fast and cheap transactions
• Increased level of financial inclusion.
• Enhancement in security and stability.
• More developed monetary policy tools for central banks.

As an example,it can be said that there's a bank in china called people's bank has already launched the Digital Currency Electronic Payment which is called Digital Yuan.There are other multiple countries like the USA and Sweden are also searching out for development of their own CBDCs.

This development can be leading cause for it to be a way for a more significant acceptance of cryptocurrency at international level , and can significantly replace traditional fiat currencies in some areas.

Have a blessed day