In a blog I wrote a few weeks ago, I mentioned a gaming Youtuber named Austin Evans who has over 2 million subscribers. He released a video mentioning 'cryptocurrency mining' for the first time, which was intriguing for a few reasons. It meant that cryptocurrenices were finally getting out to not only financial enthusiasts, but gamers as well.
Fast forward three weeks later, and we have a Youtube channel with the name "Cold Fusion", who has over 1 million subscribers, talking about Bitcoin becoming the currency of the future. His channel focuses on things that are cutting edge to the world around us. In the video, he mentions the gentleman who held up a "Buy Bitcoin" sign behind the Federal Chairman during a testimony in June. He emphasizes the fact that more and more people are recognizing Bitcoin as an alternative to the fiat currency, especially in third world countries.
Please find the video attached below:
How Will Mainstream Coverage Affect The Market?
So as we have more people finding out about Bitcoin and other cryptocurrencies, we can expect a few things:
- New investors will enter the market for a chance to obtain high returns
- With the influx of new investors, comes increased volatility (more panic selling or FOMO buying)
- Big swings in the market from celebrities endorsing coins or coverage from news outlets
- More ATMs will be created to accept Bitcoin or other forms of payment
- New credit cards will tailor to storing different cryptocurrencies
- More countries will adopt Bitcoin as an alternative form of payment
- Companies will take advantage of the blockchain technology by making transactions more efficient
These are just a few changes I see happening in the future. We're still far off from having complete adoption from fiat currency, but we're moving in the right direction. Not to mention, Apple just accepted Dash as a form of payment on the Apple Store (article attached), in addition to the already accepted Ethereum, Bitcoin, Steem, Litecoin, Lisk, and Ripple. The more channels and news coverage that Bitcoin has, the more we'll see market prices rise. This is a change that's coming fast and has no inclination of slowing down.