We judge an industry has prospects from three perspectives usually.
Firstly, whether there is a favorable macro-rising policy.
The bull market in the cryptocurrency market in 2020 has benefited from the quantitative easing of the United States, the continued spread of the epidemic, and the United States has a relatively large trade deficit with China. It is possible that the probability of raising interest rates by 2023.
U.S. Senate to vote on passage of $1 trillion infrastructure bill on August 9 2021.
https://www.reuters.com/world/us/us-senate-inches-toward-passing-1-trillion-infrastructure-bill-2021-08-09/Secondly What are the development prospects of the industry and what social problems the industry can solve?
Bitcoin was born to solve the inflation problem of the dollar, and many holders are to preserve its value. Nowdays many countries are introducing various regulatory policies, not for prohibition. Many large listed companies are deploying blockchain digital currencies one after another, and the industry has a bright future.
The third aspect, what is the economic cycle of the industry, and what is the leading benchmark of the industry now?
We can refer the development history of Bitcoin. After the upgrade of Ethereum, there is a deflation mechanism. In the future, even the overall market value of Ethereum will surpass Bitcoin.
Fidelity Investments try to Bring Crypto Assets Mainstream.
https://news.bitcoin.com/fidelity-investments-regulators-crypto-assets-mainstream/Brazil launched a brand new Bitcoin ETF.
https://ambcrypto.com/brazil-launches-a-brand-new-bitcoin-etf-but-with-a-green-twist/Today's cryptocurrency market is a global market, and a collapse is impossible! I believe that the bull market in the currency market is about to start.
Macro policy is very dependent on the results obtained at this time, the current deficit in the US is very decisive for the survival of the crypto world, considering the birth of bitcoin is a solution to the trade, economic and social deficit itself.
Moreover, social value is very influential with the current economic improvement, this cannot be separated from the birth of bitcoin to solve some of these social problems, the economy greatly determines the investment sector today.
If the economic problem is not stable, then bitcoin is the best solution for now, as well as ethereum both have the same function, only the way it works is different, but in general both have similarities in the relationship in crypto itself.