We are on the Ground Floor of Cryptocurrency

By johnwege | johnwege | 23 Jun 2024


One of the most important things you need to know in crypto is that we are still very early in this market. This might seem hard to imagine, especially with Bitcoin and Ethereum reaching prices of $69k and $4.8k respectively last cycle. But the truth is that we are still very early in this game, and its potential is off the charts.

There is one question newcomers to the crypto market ask more than any other. “Are we still early in the market? Was I too late, and missed my chance?”

There are two examples that are often used to show exactly where we are in crypto’s lifecycle. The first is that the maturity and adoption of the market is currently comparable to that of the late 1990’s internet. If you used the internet during that time, you understand how early this means we are.

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The other example uses baseball. Declaring that crypto is in the first or second inning of a nine-inning baseball game. You can use whichever example you want, but both of them show just how early we are.

In the early days of crypto, all of the things you take for granted today didn’t exist. QR codes for sending crypto, hardware wallets like Ledger’s, Staking, Crypto exchanges, DeFi, NFTs, crypto communities, and the list goes on. It was an extreme uphill battle to get to where we are today, but that should give you hope for the future.

The most difficult and also important battle that crypto will ever face was gaining adoption. Beginning with Bitcoin having absolutely no value, and being given away for free. To it now being worth more than a brand-new car. Once adoption has gone mainstream similar to how the internet did in the 2. That is when the weight will be taken off the shoulders of this industry and innovation will begin to ramp up at an unprecedented pace. So much so, that it's almost impossible to imagine what the future will look like in crypto. Similar to the Back to the Future movie famous line, “Roads? Where we’re going, we don’t need roads.”

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The same will be true about the crypto market. It will reimagine the world as we know it today. Things will never be the same.

While most people like to claim that they are in this market for the technology and to hopefully help change the world. The truth is that most people are here for the money. This leads to the question everyone is wanting to know.

“If we are still early to crypto, how high could prices actually go?”

Unfortunately, this is a question that no one knows the answer to. However, over the course of Bitcoin’s history, there is one thing that is certain. It has always defied the odds and performed much better than any of us ever thought it could. It Bitcoin, Ethereum, and the crypto industry have only reached a small percentage of their full potential. This could result in Bitcoin reaching a price tag of several million dollars in the future. With Ethereum reaching several tens of thousands of dollars, if not more. This isn’t financial advice and is only my own thoughts. However, the future of crypto looks very bright. Especially once it wins the battle against governments. 

How about you? What are your future predictions for crypto?

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