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Future Of Cryptocurrency by 2023

Cryptocurrency Market Forecast 2030 – Olymp Trade Official Blog

Cryptowinter has arrived on the cryptocurrency market. For the last 9 months, quotes have been falling and quite volatile. Those who have just recently entered this market may be frightened and confused, but it has happened many times in the past. Crises are a natural phenomenon, and any winter is followed by summer 🌞

The world of cryptocurrency continues to evolve. Let’s take a look at what awaits us by 2030.

It is quite difficult to make a cryptocurrency market forecast, especially eight years into the future. To understand this, let’s rewind time back to 2014. In 2014, not many people knew about cryptocurrencies, they were mostly represented by forks/clones of the  Bitcoin network.

 Ethereum had not even been launched yet. The technological revolution in the form of smart contracts was still only written on paper. Nevertheless, let’s think about what we can expect in the relatively near future.

Olymp Trade

Interact with the underlined words and green dots to get additional details and explanations.

Mass Adoption

By 2030, 10% of the population will be using Bitcoin and cryptocurrencies, according to a report by analysts at Blockware Solutions, a mining company. They believe that the rate of growth in cryptocurrency popularity is moving faster than the development of innovations in the past.

The analysts studied timelines of Bitcoin adoption since 2009 and technologies like cars, radio, electricity, smartphones, cell phones, internet and social media. All new technologies evolve on a similar S-curve, but Bitcoin and cryptocurrencies are evolving much faster than the market expects. Yet, 10% is a very cautious prediction. Some studies suggest that by 2030, half of the world’s population will be using digital currencies daily in their lives.

According to Deloitte, 75% of U.S. retailers will accept payments in cryptocurrency or stablecoins in the next 2 years. We can assume that in 8 years, paying with cryptocurrency in stores and restaurants will be as common as paying now with bank cards or cash. Given the trend of the world’s shrinking cash supply, this is a logical outcome.

How Much Bitcoin is There?

So what is the crypto market forecast for 2030? To start with, let’s remember that the Bitcoin issue is only 21 million coins and every 4 years halving takes place. This kind of architecture will lead to an increase in its value.

Bitcoin halving events 2009-2032 – Olymp Trade – Blog – 15.08.2022
Fig. 1. Bitcoin halving events 2009-2032

You can see that in 2030 the majority of the coins will have been produced, we will be on the 5th halving, and BTC issue will only be 328,125 coins in 4 years. Add mass adoption and an ever-growing global population to that, and you get a conservative estimate that the cryptocurrency market could grow to $4.94 billion by 2030, which is more than triple its estimated size of $1.49 billion in 2020, according to a new study by Allied Market Research.

Allied Market Research published a report calculating an annual growth rate of 12.8% between 2021 and 2030. It is likely miners will maintain their dominant position until 2030, and the fastest growth will be in the transaction segment.

What Else Might Happen?

Let’s consider this a bit and try to imagine what we might expect in 8 years.

  • If Elon Musk manages to send ships to Mars, Bitcoin will most likely become the first transplanetary transaction in human history.
  • The IMF may try to create a world reserve cryptocurrency. CBDC experiments of individual countries may lead to the creation of a single currency for the entire planet.
  • Bitcoin itself might become such a currency. However, it is unlikely by 2030.
  • There will be pressure on Bitcoin miners and developers to increase the max supply of BTC from 21 to 42 million. This could be the biggest potential rift in the crypto community.
  • Another potential threat could come from a quantum computer or other means of hacking the Bitcoin network. It is the 100% reliability of the main cryptocurrency network that keeps all crypto users confident.
  • Bitcoin integrates the entire DeFi sector, and advances in technology and greater seamlessness will make it possible for you to pay by card or app on your phone for coffee while funds are debited from your staking in crypto protocols.
  • However, it is even more likely that taxes will have to be paid for these crypto-income streams, because regulation does not stand still and is likely to increase more and more by 2030.
  • This will probably then lead to some cryptocurrencies being labelled as shady (used in money laundering, drug dealing, etc.) and not being accepted by regulator-accredited institutions. Clean coins and shady coins will appear in a more explicit way.

Conclusion

The cryptocurrency world is changing rapidly. In the last few years, there have been such trends as DeFi, GameFi, and NFT technology has gained popularity. That’s why it’s hard to imagine what the cryptocurrency world will look like in 8 years. However, if we make any cryptocurrency market predictions, it is safe to say that cryptocurrency technologies will continue to evolve, and their widespread adoption will only grow.

Do you want to be on the same wavelength with progress?

Cryptocurrency trading with Olymp Trade is a unique chance to trade cryptocurrencies on special terms. USDT account from Olymp Trade is a unique opportunity to enjoy exclusive features and offers 💸

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