The Types Of Developments That Could Cause A Crypto Surge

Whether you’re buying up cryptocurrency to store in a wallet of your choice, or you’re exploring cryptocurrency futures, if you’re investing, you’re hoping to see lucrative gains. With many other types of investment, more gradual growth is the hope or expectation. But given the nature of cryptocurrencies as commodities that are still introducing themselves to the world, many are hoping for something bigger. Furthermore, after what we saw in 2017 (when cryptos spiked to the point that a single bitcoin was worth nearly $20,000), the bar has been set.

Now, to be clear, there is no reason to expect a surge a la 2017, nor is there any predicting such a thing. Even if they’ve settled down somewhat over the last 18 months or so, cryptos remain quite volatile compared to most assets, and even the experts don’t know what will happen or when (even if some of them claim to). That doesn’t mean, however, that there aren’t some things to watch for as potential indicators of a sustained cryptocurrency surge.

This is not an exhaustive list, but these are some of the different types of development to watch for.

1 – Mainstream Public Education

Another article that looked into some factors that could lead bitcoin to “skyrocket” took a more technical approach, identifying some legal, technological, and industry-level changes that may need to happen for cryptocurrency to reach its full potential. In this piece we’re focusing more on practical applications that could expand usage and thereby demand, but one point from this other article stood out as particularly important: public education.

Considered generally, this simply implies that more people will have to learn about cryptocurrency in order to get comfortable purchasing and using it (and thus driving up its price). More specifically though, we’re considering the idea of some kind of mainstream education catching on. Right now, there are already countless articles and tutorials explaining cryptocurrency, not to mention books being written. But if one “main” source of education were to break through as a popular option – be it a best-selling book, a trendy podcast from an in-the-know celebrity, or anything similar – we could see a quicker rise in interest and usage.

2 – Retail Acceptance

The first thing most people think of when considering what could cause a spike in cryptocurrency value is real acceptance. The truth of the matter is that more online retail stores accept cryptos (typically bitcoin) than most people realize. Additionally, the creation of crypto debit cards is making it easier for people to buy and use digital currency at in-person stores. Even so, it stands to reason that one of the biggest single developments for crypto investors might be one or two large-sized retailers agreeing to accept cryptocurrencies directly. Amazon, in some sense, is the great white whale of this possibility.

3 – Use In Betting

Betting is a lucrative international business that has already become friendly to crypto users in some cases. The fast transfers for deposits and withdrawals, as well as the encryption factor, make cryptos appealing to a lot of online bettors in particular. Naturally, if some of the larger online betting companies decide to start dealing in bitcoin and other cryptos as well, it would represent massive new potential for use.

Beyond adoption from leading bookmakers, there’s also the fundamental expansion of online betting markets into new territory to consider. The United States has in the last 18 months or so begun to allow legislation for real-money betting, which will bring droves of new bettors into the market. Already, U.S. bookies are offering a variety of payment and banking options. Sugarhouse, one of the early leaders in states with legal betting, accepts six forms of payment for deposits and sends winnings to players via five. With that level of variety, there appears to be space for cryptos – which, coupled with the market, could be one of the more significant crypto usage developments of the next year or so.

4 – Prevailing Wallet & Card Companies

We mentioned cryptocurrency debit cards above, and while there are many of them on the market at this point, a prevailing one with heavy advertisement and widespread availability could be a game-changer. Right now, many don’t actually realize there are debit cards onto which they can load crypto funds for regular use; and those who do realize it might not know which card to trust. A crypto card that established itself not just as new or functional but as a trendy, popular product, would be a very important development.

The same is true, to some extent, of crypto wallets. While there are dozens of options of various kinds available, choosing between them is dizzying. Some are more robust than others; some focus more on security; some have been around longer, while others are newer but sleeker and more appealing. Here too, if a prevailing go-to option emerged, people might feel more comfortable using it – which at some point is a necessity if people are going to buy and use cryptocurrency.

It’s still important to be cautious with predictions about cryptocurrency, particularly when it comes to investment consideration. These, however, are at least the types of developments to be on the lookout for if crypto is to see sustainable gains.

Disclaimer: This article is not investment advice. Note that cryptocurrencies are highly volatile assets and very risky investments. Do your research or consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.