Last week we talked about the intermittent losses on the digital asset market. We also mentioned that it would take about a week to start recovering and on Thursday we noted the market trending upward, reaching a total capitalization of $333.48 billion USD, or a gain of $2.44 billion compared to last week.
After almost two weeks from the beginning of the downfall to this slight recovery point, the market is showing green numbers almost all over the board, and with a positive forecast for the upcoming days. As a reference, Bitcoin is expected to get back in the range between $8,200 and $8,600 USD per coin in the next few days.
The crypto market is becoming more relevant and some of the world powers are watching closely the Blockchain technology, how its usability could benefit the global economy, the window to improve the transaction processing, as well as the potential effects of digital assets in the domestic economy of the countries willing to accept them.
Lately there have been a positive feedback from different fronts around the world about cryptocurrencies and how they represent a low risk for the financial systems of the countries that have shown an open mind about them, especially because of the low capitalization they represent for these economic powers.
Another factor is the limited role of regulatory entities around the world. Some of the countries that are being more receptive of this new economic trend are the Netherlands, China, Russia, South Africa, South Korea, Australia, Switzerland and India, to name a few.
In addition, there are several companies whose internal operation is benefiting from the Blockchain protocol, which not only allows a more efficient transaction processing, but also enhances their security.
Some other companies have benefited from accepting certain cryptocurrencies as a paying method, because that expands the market for more potential customers.
With that said, my dear readers, I'd like to remind you about the importance of improving your knowledge regarding this innovative financial market, which is transforming the world's economy on a daily basis.
By Omar Cortés