Since the establishment of the industry in 2009, cryptocurrencies have experienced multiple bull and bear market cycles.And 2017 witnessed the crypto industry The boom around the initial coin offering And the rising Bitcoin (Bitcoin) Price, 2020 and 2021 have seen the crypto space expand around decentralized finance (DeFi) And non-fungible tokens (NFT). However, according to the CEO of a crypto company, this time, retail and institutional interest in crypto is more popular than ever.
StormX CEO Simon Yu said in a comment to Cointelegraph: “The popularity of cryptocurrencies has been steadily increasing over the years, but when the market fell rapidly, 2017 left a bitter taste in many people’s mouths. Taste.” “But fast forward to 2021, it’s clear that times have changed.”
Yu elaborated his quotation based on the latest survey results of the British Financial Conduct Authority (FCA). Revealed 2.3 million British adults According to a survey, has its own cryptocurrency.
“Incorporating cryptocurrency into all aspects of daily life provides itself with room for growth and consolidation, not just an asset-it is becoming an important alternative financial system for legal tender, and people are beginning to notice this,” Yu said, and added:
“The company no longer presents arbitrary use cases, but thrives by increasing the benefits of consumer lives outside the cryptocurrency space. All this is happening in the global pandemic. People have time to evaluate their financial situation and are now looking for alternatives. Ways, not only to invest, but also to make money.”
Following the crypto bull market in 2017, the industry fell into a bear market in 2018. As far as the current market is concerned, as of the time of launch, Bitcoin is in the range of $30,000-40,000, which is far below its historical high.Time will tell whether the cryptocurrency market will go Further bearish future.