What Does the Rise of Cryptocurrencies Mean for Aussies?

The meteoric rise of bitcoin had always been nothing short of a fairy tale for investors, but this particular fairy tale is not about to end anytime soon. Even some of the most well-known investors of our time predicted that bitcoin was done and dusted after its short stint in 2017, but they were very wrong in their assumptions, as it turns out.

Fortunately for those that chose to believe in bitcoin and the blockchain technology as a whole, 2021 is already proving to be the best year for bitcoin ever. The price of the cryptocurrency continues to rise at a truly meteoric pace, making the 2017 jump seem extremely tame in comparison. This is all good news for Aussies in particular since the rise of cryptocurrencies in 2021 is more relevant to Australian investors than it is for crypto investors in almost any other nation. To elaborate more on that statement, we will have to quickly go over a few facts first.

The Australian Government Supports Cryptocurrencies

There are only a handful of nations such as Singapore and the US that can be called more crypto-friendly than Australia. This is, of course, a well-known fact because Australia was not willing to discriminate against verified cryptocurrencies from the very beginning. As of early 2021, the Australian Securities and Investments Commission (ASIC) has confirmed the following facts about cryptocurrency regulations:

• * All applicable legislative mandates and compliance requirements are technology-neutral, which in this case protects cryptocurrencies from financial discrimination.

• * No separate laws or Acts have been drafted to exclusively regulate cryptocurrencies, so as to maintain the neutrality mentioned above.

How It Affects Australian Investors

As expected, investors across the globe are trying hard to capitalize on the massive growth opportunities that crypto-trading holds right now and will continue to hold in the future as well. However, they are often deterred in their respective nations due to government-induced hurdles that range from partial bans and strict financial restrictions to completely illegalizing all cryptocurrencies. In absence of such crippling factors, the rise of the crypto-economy can only be good news for Aussies who have either already invested in it, or are planning to do so now.

Is the Rise of Cryptocurrency Something that New Investors in Australia Can take Advantage Of?

There are ample opportunities for even inexperienced Aussies to take advantage of the sector’s growth. This step by step guide on how to buy bitcoin in Australia should be more than enough to get Aussies started, whether they have prior experience in crypto-trading or not. To understand why cryptocurrencies in general and bitcoin in particular can be such a lucrative market for new investors, take a quick look through the following.

• * The rise of bitcoin is predicted to be just as unsteady, as it is inevitable.

• * Unlike what happened in 2017, the 2021 spike has lasted longer, been steadier, and has often reached prices almost 3 times its 2017 highs.

• * Bitcoin has not fallen below the US$45,000 mark for more than a month while allowing enough volatility to still keep short-term trading extremely profitable.

There are predictions out there that put the bitcoin at an expected price of half-a-million US dollars or more by 2030. Such estimates may or may not come true, but there is no denying the fact that bitcoin will continue to rise in its value, although there will be sudden dips from time to time due to the volatile nature of the cryptocurrency.