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Crypto is in its golden era, most of the coins are currently showing a bullish trend, price of those coins is increasing day by day. Everything happening in the cryptocurrency ecosystem is in favor of their boosted performance. The United States of America has become the most optimal ground for cryptocurrency harvesting. What could be the reason behind this unparalleled growth of cryptocurrency in recent weeks? The presidential election and Donald Trump’s Triumph over Vice President Kamala Haris are indeed the reasons for this unprecedented trend in the cryptocurrency ecosystem.
Donald Trump has always been an ardent supporter of Cryptocurrency and this was one of the most effective promotional strategies in his presidential election campaign. Political experts from the United States believe that his pro-crypto attitude is one of the main reasons for his victory. Crypto has gained enough power to determine the democracy of the country. What an exceptional growth in 15 years!
Cryptocurrency Golden Era begins after Trump’s Triumph!
Cryptocurrency investment has become a 21st-century trend, and it has been an active participant in the world economy since its introduction in 2009. Currently, cryptocurrency is in its golden era. The value of every crypto project is increasing and showing bullish trend in the market. In the United States of America, around 18 million people are invested in cryptocurrency. This number shows how trusted they are when it comes to investing in crypto projects. Now in the 2024 presidential election, they elected a president with the same affinity towards cryptocurrency and crypto projects.
Donald J Trump has explicitly announced his approach towards cryptocurrency and how he is going to support them when he is elected. Crypto was a major component in his election campaign. So there is nothing to be amused in this price spike in crypto coins since Trump has officially elected as the president of The United States of America. Bitcoin is at its all-time highest price after the victory of Trump. Cryptocurrency is valued at $99,502.9241 at the time of writing. It is marching towards $100,000 and we can expect that soon. The post-election trend of cryptocurrency price spike is still ongoing and so many other currencies are showing the same trend as Bitcoin.
Cryptocurrencies like Ethereum, Tether, Solana, BNB, and XRP all are showing a bullish trend and we can see immense growth in their values. This indicates that people are more into cryptocurrency investment and the victory of Donald Trump has boosted the trust of people in this specified arena. Moreover, Trump will most likely be going to provide all the favorable outcomes to those who actively participating in crypto.
Is Cryptocurrency investment an ethical one?
Cryptocurrency and its investment are legal in most of the developed countries. There are no legal complexities associated with cryptocurrency investment. However, there is a serious question that can be asked regarding the excessive significance of cryptocurrency projects in the modern era. The cryptocurrency investment cannot be defined as ethical or unethical. It is always up to the users and their intention behind the process. The ethical concerns of cryptocurrency depend upon several factors. Some of those are how it is generated or mined and how it is used in our financial system.
Ethical Concerns Regarding Environmental impact
Environmental issues regarding cryptocurrency mining or generation have been a hot topic since its introduction. There are a lot of environmental concerns associated with cryptocurrency projects. The mining process is the important one in that section. The cryptocurrency mining process requires a lot of high-processing computers working together and they need large cooling systems. This excessive usage of electricity can lead to huge energy wastage.
These computers used in the mining process would require a large unit of fans to cool down the system, so a large number of fans need to work. This can create a constant buzz in the environment and lead to noise pollution. But the latest cryptocurrencies like Ethereum use a proof of stake (POS) mechanism to mine the coins. This would require a less amount of energy. So the issue is still there, but it is all about balancing the ethical concerns and practical applications.
Ethical Concerns Regarding Financial Inclusion
Financial inclusion is an important ethical concern of cryptocurrency. The absence of a centralized agency can enable the cryptocurrency to be made available in unbanked locations and global access is possible. But this is a highly critical point, these services will not be accessible to those who are not familiar with technological advancement. Technological barriers, its highly volatile nature, and scams related to it all are major ethical concerns regarding cryptocurrency investment.
Ethical Concerns Regarding Illegal Activities
Cryptocurrencies have been used to perform illicit activities like money laundering, and tax evasion. So this could support criminal behaviors or it will facilitate the criminal nature in the community. Using these kinds of technologies in the right manner is not harmful to our society, but these illicit activities can hinder further growth and advancements.
Ethical Concerns regarding the volatile nature of cryptocurrency
Cryptocurrencies have a highly volatile nature, so investment in them would be risky. This factor can lead to financial loss for those who have no comprehensive knowledge about the system. Investors who lack financial knowledge of cryptocurrency will have to face a hard time once they enter into it. But if you are willing to learn the trends in the arena, it will help you and deliver you profits.
There is no actual answer to this question. The ethics of cryptocurrency investment is purely based on the people who are included in it. The individual values and priorities are the two factors that determine the ethical implications of cryptocurrency investment. The ethical concerns regarding cryptocurrency investment in a broad topic. So individuals who prioritize ethics can go for projects that align with positive social impact, sustainability, and inclusivity.
Conclusion
If you are an individual who wishes to invest in cryptocurrencies and you have enough resources to do so, then this is the best time to initiate your cryptocurrency journey. The market surge of cryptocurrency coins indicates that it is one of the most profitable investment schemes for the future. Donald Trump’s victory and the price surge of cryptocurrencies will be marked with golden letters in the history books of cryptocurrencies. This golden era of cryptocurrencies will be remembered and the future generation will look into that with utmost joy and enthusiasm.
