Cryptocurrency has gone through a series of ups and downs since the industry started in 2009. While 2017 saw a boom in the cryptocurrency industry around first coin offerings and the rise in the price of Bitcoin (BTC), in 2020 and 2021 the crypto space around decentralization expanded. Finance (DeFi) and intangible currencies (NFT). However, this time around, according to the CEO of a crypto company, interest in cryptocurrencies from retail and institutional organizations has led to ever more widespread adoption.

“Cryptocurrency’s popularity has grown steadily over the years, but 2017 has left a bitter taste in many people’s mouths as the market is going through a sharp downturn,” but fast forward to year Simon Yu, CEO of StormX, said in comments posted to Cointelegraph. 2021 It is clear that times have changed.”

Yu cited his quotes in response to recent findings from the UK’s Financial Conduct Authority (FCA), which showed that 2.3 million UK adults own crypto, based on a survey.

In 2017, the price of Bitcoin soared to a high of just $20,000 per coin. BTC reached nearly $65,000 in 2021, according to

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“The incorporation of cryptocurrency into everyday life allows it to grow and consolidate as something more than a resource — it becomes a serious financial system, an alternative to fiat currency, and people are starting to take notice,” Yu said.

“It is not the companies that appear in situations of abusive benefit, but now they are thriving in saving lives for consumers outside the cryptocurrency space. All this is happening simultaneously, in the midst of a global pandemic, when people have had time to evaluate the economy and are now looking for alternative ways not only to invest money , but also to make money.”
After a bull market for cryptocurrencies in 2017, the industry entered a bear market in 2018. In terms of the current market, bitcoin has been in the $30K to $40K range since its publication, well below its all-time high. Time will tell if the cryptocurrency market goes further down.

Source: CoinTelegraph