Bitcoin Cash & Digital Currency

Bitcoin Cash & Digital Currency

- in Business Studies

The Crypto currency market is currently going downhill, we have seen huge fluctuations in the market making investors decisions ambiguous. Investors are keeping a close eye on the digital currency as the crypto currency is seen to go bust. However many analyst around the world considers this to be a temporary measure and believe that the market will recover soon.

Bitcoin cash is current at $175 we have seen a huge decline from last year where it was at $3347. The Crypto market has hit almost rock bottom having 70% wiped off the crypto market. Many investors still have hope that the market will recover and we will see a rise in Bitcoin cash in the years to come.

The world we live in is changing fast, we all know that cash is king, however as time moves on so does innovation and technology. We now live in a world where technology is taking over. Here we will look at the dynamics of which direction things are heading.

Most people now pay online with a debit or credit card for products and services, the use of cash is slowly evaporating, the number of people shopping online is growing year on year with internet sales increasing tremendously during Christmas and the New year. We now live in a society where consumers are looking for the easy way to purchase from the comfort of their homes to shopping on the go. This method indeed saves time and effort from actually going to the stores to choosing the item to stand in long queues then buying, when you can go online with a click of a button and buy. Digital currency – The world has seen the magnitude of digital currency over the last few years from bitcoin to all sorts of digital coin in the marketplace. For example the price of a bitcoin now in 2018 is around $6000 in 2009 we know that the price of bitcoin was around 0.13p, therefore you can do the math yourself if you had invested £10 in bitcoin in 2009, today you would have a return of $480000 from that investment, this was the significance of digital currency. The price per bitcoin in late 2017 was around $19000 dropping to around $6000 in late 2018.

We might ask ourselves would this continue or would there be a time where everything will go bust and the crypto  market will lose its value. We can see from the current situation that the crypto market has lost almost 70% of its value however many analysts that predict the crypto market will reverse and we will see a rise of the main coins like bitcoin, lightcoin, Ethereum, Ripple.

Many companies now accept bitcoin as a substitute to cash, we can even pay to fly to the moon with bitcoin as the digital currency looks to take over the world despite its ups and downs. The regulations behind the digital currency  are now becoming more stronger as most organisations who sell digital currency has now to comply with the rules and regulations. This will strengthen the digital currency as more people will have trust and certainty and will invest as a result for future gains.

In today’s world we see technology as the fastest growing and innovative way of doing things, for example a lot of large companies are investing heavily in their business to find better ways and quicker ways of doing things. Let’s look at the food manufacturing for example like packaging and labeling, companies are now able to produce higher outputs using less time because of the speed of technology and innovation. Technology is also used to streamline many services in enhancing its development and making things easy for the consumer.

The world is developing, work is being simplified for example let take a car manufacturers, many organisations have cut down on the manual work and now use machines to build cars. This will reduce the number of people that an organisation needs replacing them with machines that will in fact help save cost for the organisation.

If we look at mobile phones for an example we can see how the development of mobile phones has been in the last 10 years, from having phones with no colour to now colour screen, touch screen, compact size also having all the latest apps built in to the mobile phone. Manufacturers are always looking at improving the specs for example the pixel for the camera built in to the phone, to new apps, from having larger memory sizes built in to the phone to making the phone size more slim and compact.

Technology is the key to the future with many organisation investing a lot of money on technology to be ahead of the game, with the new AI (Artificial Intelligence) we can see that the world is moving forward very fast, companies are heavily investing in technology to make life more easy for the consumer, technology will also help save time as we know time is money, cash is king.

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