How will the crypto markets look in the future?

[Lillian McKenna]

Given that cryptos have not been performing well during the COVID-19 pandemic, how will crypto markets look after the pandemic is over?

[Simon Mugo]

Hi Lillian, thanks for this great question. The truth is nobody knows how the crypto industry is going to look after the COVID-19 pandemic is finally contained as there is no timeline for when this will happen. Hopefully, the COVID-19 virus will be contained over the next few months so that people all across the globe can resume their normal daily activities.

Based on the current state of the crypto markets where we have seen sell-offs similar to those in the stock markets, its clear that there may be more wild price swings in the future. However, there are clear signs of rising demand for cryptocurrencies among the masses as more people are now quite familiar with the major cryptos such as Bitcoin and Ethereum.

There are many other smaller cryptocurrencies that are likely to soar due to their specific use cases and shifting consumer preferences. Events such as the scheduled halving of Bitcoin mining rewards on 6th May are likely to trigger major rallies in the crypto sector. Based on the current market fundamentals, I can confidently state that the future for the crypto markets looks very promising.