Unlike every other commodity in the business world of 2020, cryptocurrencies have been on an upward trend this year. This bullish nature of crypto assets of late has been a welcome sign for investors around the world. From private investors to the biggest names in the business, everyone is getting involved in the cryptocurrency industry in an attempt to cash in on this growth. The question is, are you?
For those unaware, cryptocurrencies were named the ‘top asset’ of 2020 so far, outperforming the usual suspects like gold, oil, stocks, bonds, and every other type of commodity. While this news has been swirling around in the market for quite some time now, recent events have certainly acted as the ‘proof in the pudding’.
The bullish trend of cryptocurrency is further confirmed by a series of recent highlights of the industry.
-
As of October 20, the most popular cryptocurrency, Bitcoin, broke a recent high of $11,850 owing to talks of an upcoming COVID-19 fiscal stimulus package picking up steam in Washington.
-
Similarly, Ethereum, which in some regards is outperforming even Bitcoin, broke the $300 mark, a “resistance zone” which it has crossed since February 2018.
-
Cryptocurrencies are seeing a much more widespread adoption at the global level. A recent report published by the World Gold Council indicates that Russian investors are opting to invest in cryptocurrencies over gold and silver. Cryptocurrencies are the fifth most popular investment option only behind savings accounts, foreign currencies, real estate, and life insurance.
-
Cryptocurrency exchanges are seeing a healthy spike in trading volume worldwide, especially from countries like India, where the Supreme Court lifted the ban brought in by the Reserve Bank on banks doing business with these entities.
With success stories like that of Unocoin (a Bengaluru based cryptocurrency exchange that raised $5 million in Series A funding and is valued at over $20 million) becoming more commonplace around the world, it is safe to say that cryptocurrencies are here to stay.
The initial uncertainty and caution surrounding this forward-leaning asset, backed by blockchain technology, has been washed away and replaced with optimism and hope for the future. If there were ever a time to invest in the crypto industry, it is now! With other assets performing poorly, there is no better choice when it comes to a fruitful investment opportunity in 2020. So what are you waiting for?
You can grab hold of this opportunity with both hands by being an early investor in the soon-to-be-launched ICO of Bank Xero. A bank designed from the ground up utilizing blockchain technology, offering an unprecedented and hassle-free crypto integration.
To learn more about Bank Xero, Mission Prosperity, and our plans for the near and extended future, visit https://missionprosperity.org/.
