Will Cryptocurrencies Catch Second Wind?

2020-2-10 17:38

Coinspeaker
Will Cryptocurrencies Catch Second Wind?

Around the world, major cryptocurrencies are seldom seen in major headlines anymore. While tech-savvy individuals and crypto-investors are obviously paying close attention to the current valuation of leading tokens like Ethereum or Bitcoin, many people have tuned out of crypto-related news. There are reasons to believe that new cryptocurrencies will be catching the public’s eye sooner rather than later, however, and it would be foolish to dismiss the potential held by some budding tokens which are proving to be popular with consumers.

Will cryptocurrencies catch a second wind? Here’s a breakdown of the latest crypto-performances, and why blockchain technology will remain relevant for some time.

Bitcoin? Never Heard of It

Did somebody say Bitcoin? Probably not, because relatively few people are paying attention to the world’s leading cryptocurrency these days. That may come as a surprise to some, but the truth of the matter is that Bitcoin has largely fallen out of the major media spotlight it found itself in for months on end just a few years ago. If you take a look at some basic analytics, such as the Google trend history for Bitcoin related searches, you’ll notice that the world’s most popular digital currency has already reached the zenith of its digital popularity.

Does that mean that Bitcoin is dead and gone? Certainly not, as the token has suffered from losses in both valuation and public interest before. What it does mean, however, is that Bitcoin and other leading cryptocurrencies aren’t likely to consume the entirety of the public’s attention span as they once did in years past. Rather, newcomers to the cryptocurrency market will have to fight hard to generate press coverage and a public buzz surrounding their performance.

Some may already be capable of doing that – for proof, look no further than Forbes, which recently published an article on Chainlink, whose price has already risen by about 25 percent since we rang in the New Year. While the link is indeed getting some media coverage right now, it’s still a small fish in the world of breaking news, where geopolitical crises and ongoing elections suck up most of the public’s attention.

That doesn’t mean that cryptocurrencies and blockchain technology will fade from the public’s notice forever, though. The people interested in forming an anonymous LLC or preserving their privacy in an increasingly-surveilled digital age will always have uses for hard-to-trace digital currencies. Unfortunately, however, it does mean that major public attention will likely seldom if ever be paid to cryptocurrencies barring rare scenarios where they see sudden and unexpected fluctuations in their valuations.

The Future Is Uncertain

As always, it’s not advisable or even necessarily possible to predict how cryptocurrencies will be performing a few days from now, let alone a few months. It nevertheless appears that the public honeymoon with Bitcoin and other major cryptocurrencies could be coming to an end. In the future, most of the attention paid to this space will likely be reserved for commercial uses of blockchain technology.

For some crypto-investors tired of the public spotlight, that could be a dream come true.