We are expecting a bull market this year, especially for altcoins. I would say it is already a very good time for BTC as the price spiked in the last two years. The altcoin pump is not happening as expected. I don't know how to predict this too because there are so many projects right now and there are many blockchains compared to how many we had a few years back. This is one of the biggest reasons why we are not seeing big growths on one particular blockchain alone.
I would say that every blockchain has its community and it is all dependent on how good they are and what marketing they are doing and how they are doing the onboarding. For someone who is getting started with crypto will only know Bitcoin and maybe ETH. The community must make them understand their blockchain and the difference. Having more opportunities for people to grab is an easy win.
New people interested in crypto
Today I was having a conversation with an old friend to whom I was talking after almost 3 or 4 years. He is fully into Equity trading. Today I did tell him that I'm in cryptocurrencies and working on some projects. He was very much interested and wanted to discuss it with me. He mentioned that he did try exploring cryptocurrencies but was mostly caught in scams and money-grab schemes. I told him that we could have a discussion and he was happy to get the knowledge from a trustworthy source.
On the other hand, other people are interested in trying cryptocurrencies and blockchain. Two of my other friends never mentioned anything about their exploration to me. But looks like they invested some money in one of the trading apps and lost everything. Upon asking they said that they did the investment when the price of BTC was at its peak. People don't understand about cryptocurrencies or blockchain and sometimes they blindly invest or trade.
Regulation is a big concern
I also meet people who are interested but they fear the regulatory aspects of cryptocurrencies. People don't want to get into this because they fear that they might get cornered by the regulatory authorities. The cryptocurrency situation is not very clear in India and also in many countries. They say Donald Trump is supporting cryptocurrencies but not all the governments are supporting cryptocurrencies. Maybe in the future they might but currently the support is not available.
I think in another few years there will be some concrete projects with cryptocurrencies that people can use. Already government is also trying to explore this technology and make use of it but what to do, there are scammers everywhere and people abuse this technology and that's the major fear of why not everyone is exploring this. Hackathons and tech talks are being conducted in many places in India where knowledge of cryptocurrencies is shared with individuals.
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