Anything new is always welcomed with frowns and flummoxes and that too if it concerns the indispensable financial aka the money market, the suspicions are only stronger due to its influence and importance. That is exactly the case with the latest cryptocurrencies of the market, that are trying to reform the financial industry by offering some out-of-the-norm suggestions. These unique methodologies though welcomed by few still unaccepted by many but that doesn’t put an end to their growth, which is justified by the following 4 significant signs.
- Increased Visibility
The talk about the cryptocurrencies is all over the internet! Be it the significant Google search or the significant social media activity, everywhere the term is being searched, discussed and analyzed only to prove the increase in their visibility aka their increasing growth and popularity. This was also confirmed by the Google Trends data for the year 2017, which states that the Google Trends score for the term Bitcoin hit 100 in the month of the December that was only 5 or so in the earlier days.
- Increased acceptance
Another sure sign for the growth of the cryptocurrency is its acceptance that has been increasing these days, in the name of the investors’ interest. Yes, many powerful investors are keen to invest in this market that has led to the 850% growth of this market.
- Promising ICO activity
Through ICO or the Initial Coin Offering the cryptocurrency market, received its much-needed support from the big firms, where according to an analysis made by an autonomous research firm, more than $1 trillion have been raised in the name of the ICO activity in the first half of the year 2017.
Among the different companies and the sectors, the amount raised by the financial sector through the digital currency means was considered more significant and this shows, how the cryptocurrency market is being favored for crucial fundraising necessity. This also means the growth of the market as people would now prefer this digital currency way for other significant payments and transactions.
- Hedge Funds
Another sure shot indication of the growth of the cryptocurrency market is the increasing focus of the hedge funds on these digital assets. As reported in the Business Insider, at present there are more than 50 hedge funds that are focused on these cryptocurrencies, which is indeed a considerable number!
But this number is expected to increase as soon as the many other hedge fund owners are able to complete their legal paperwork to purchase these significant digital assets, which means the unstoppable growth of this cryptocurrency market is accurate!