An Analysis on Future Hold for the Market for Cryptocurrencies
Keywords:
Data Mining, Crypto Currency, Bitcoin, Bit Pay, EncryptedAbstract
A technology that was invented eight years ago is known as cryptocurrency. Cryptocurrency is a peer-to-peer network that is encrypted and facilitates digital barter. The first and most widely used crypto currency, Bitcoin, is leading the way as a disruptive technology to long-standing and unaltered financial payment systems that have been in place for many decades. This is happening because Bitcoin is the most popular of all crypto currencies. Even though it is highly unlikely that crypto currencies will ever replace traditional fiat currency, they have the potential to alter the way in which internet-connected global markets interact with one another by removing the barriers that are normally associated with national currencies and exchange rates. The pace of technological technology is very quick and the success of a particular technology is almost entirely determined by the market that it attempts to enhance. It is possible that crypto currencies may transform digital trade markets by establishing a trading system that is fee-free and decentralised. A SWOT analysis of Bitcoin is offered, which sheds light on some of the recent events and movements that may have an impact on whether or not Bitcoin contributes to a change in economic paradigms. These recent events and movements include: This article provides a comprehensive analysis of crypto currencies and where they stand in the context of the current market environment. The paradigm change brought on by the revolution helps us comprehend the significance of crypto currencies as a method of doing business in a sustainable manner.
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