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Crypto traders have experienced a whirlwind ride during the past few years. For a while it seemed like millionaires were being minted overnight thanks to the altcoin frenzy in 2017. However, reality quickly set in and millions were lost just as fast as they were made. Altcoins haven’t been able to recover despite hopes of another altcoin boom. Many view this as the altcoin apocalypse where the majority of altcoins will never complete their projects. This may end up being a good thing overall as the cream will rise to the top and get the attention they deserve.
As it turns out, the point of cryptocurrency is not to purchase lambos. Rather, the point is to develop new technology capable of disrupting industries that will benefit society at large. Of course, in order for any of that to happen, adoption will need to occur. Thanks to several promising developments, adoption may end up coming sooner than many thought possible.
Bakkt and the Lightning Network
Satoshi Nakamoto’s dream was for Bitcoin to be a universal currency free from the constraints of centralized governments. While Bitcoin has come a long way since 2009, further improvements are needed before it will gain mass adoption. However, those improvements may soon come in the form of Bakkt and Lighting Network.
Bakkt will soon become the preeminent bitcoin futures trading platform. The platform has already been approved and will commence trading on September 23. The long-term prospects for Bitcoin are extremely promising thanks to the Bakkt launch for two primary reasons:
- Institutional money will flow in
- Facilitation of retail bitcoin payments
Since Bakkt will provide a federally regulated system to trade Bitcoin futures,