Without a doubt, 2021 has been a breakthrough year for cryptocurrency. Bitcoin has hit an all-time high and there is a growing awareness among the public about the crypto market, thanks to increased investment and long-term advocates such as Elon Musk flying the flag. Blockchain and cryptocurrency have been touted as the future of finance. However, like all predictions, there is still a degree of uncertainty as to what will happen, particularly in today’s climate. We asked Moritz Herbert, the founder of popular YouTube crypto channel CryptoMo, about his thoughts on the future of crypto in 2021 and beyond. As usual, his reflections and musings were both revealing and illuminating.
“I believe we will look back on 2021 as the year crypto broke into the mainstream,” says Moritz Herbert. “For the first half of the year, it was consistently under the spotlight and more and more people were waking up to its vast possibilities and potential. The industry is still in its infancy and constantly evolving, so predicting anything is not set in stone as of now. However, I think it’s a safe guarantee that if you want a healthy return on your investment, now is the time to pour your money into some viable forms of cryptocurrency because this gold rush is about to take off big time.”
Probably the one thing that all cryptocurrency analysts agree upon is that governmental intervention in the form of regulation is on the cards. Moritz explains, “Lawmakers globally are in the process of ensuring cryptocurrency continues to attract investors and deters cybercriminals. Clear regulation comes with its own hurdles, but ultimately it would be welcomed by everyone in the industry. We don’t want to end up in a situation like China, where the authorities have banned cryptocurrency because they cannot control it. Regulation would make life a lot easier for the IRS and investors. Sensible regulation would be a win for all.”
Another exciting prediction that Moritz Herbert makes for the crypto market is the adoption of cryptocurrency and blockchain by mainstream industries. He states, “AMC has announced it will accept Bitcoin payments by the end of the year, and Tesla is already testing it. I believe it’s only a matter of time before a giant retailer such as Amazon announces it will accept crypto payments and the chain reaction will be huge.”