Whenever you invest in an asset it is important to be convinced that the asset will stay relevant even in the future. As far as the Bitcoin is concerned, prospective traders and investors will be keen to know Bitcoin has a positive future. Since March 2019, prices of Bitcoins have practically doubled; this rise has been followed by many ups and downs but forecasts by experts suggest that prices will rise again this year. Bitcoin prices are crucial because it has the biggest market cap and influences prices of the other digital currencies.
Will Bitcoin be relevant even in the future?
- According to studies conducted by College London, BTC will enjoy mainstream adoption in the years to come. While most millennials trading online and optimistic about Bitcoin’s future, the orthodox traders trading for many years are skeptical.
- Positive news reports have convinced traders that Bitcoin has a future. When something interests huge numbers of people, it can ensure that the currency stays relevant. Facebook, for instance, has consented to lifting the ban on crypto currency ads from April onwards. Big companies like Microsoft are including cryptocurrency in their businesses. And also, the recent inventions like bitcoin loophole have increased the bitcoin trading as they carry out the trading autonomously.
- While there has been a news report of hacking incidents and breaches, prices of coins have not stayed low forever. Even after the May 2019 Binance hacking incident that reportedly led to losses to the extent of $40 million, prices that had come down for a while soon sprung back to their original values.
- Why the Bitcoin had grown so dramatically in the early months of 2019 is not exactly known, but the nature of the crypto market is such that anything can be expected at any time. Investors often start investing for FOMO or the fear of missing out on profit-earning opportunities. So, the interest in Bitcoins will definitely continue to prevail in the coming years. The hype surrounding cryptocurrencies in general will drive it forward.
- No matter whether your country is accepting crypto coins, there will be no effect on the prices of the different crypto assets. Global market trends however can impact the prices. So, many advocates of crypto coins feel that there are plenty of people out there who are considering making a switch from fiat currency transactions to crypto transactions. This would offer them total freedom from any centralized control; and this is definitely not an impossible situation, as countries like Venezuela have proved.
- There are many credible reports that argue that prices of Bitcoin will go up in 2020, and the rise is going to be bigger than ever. After the halving of the Bitcoin in May2020 the prices for every block will be halved, bringing down the BTC value to 6.25 this time. This would mean demands for more coins, but Bitcoin has a finite supply. In other words, prices will skyrocket.
- When the Internet bubble had burst many of the big companies had seen their stocks crash; but they continued to survive and witnessed unprecedented success; Google and Amazon are the finest examples. It is believed that the crypto assets will also have the same fate; even if 10% of the ongoing crypto projects survive the bloodbath, they will turn into the JP Morgans of tomorrow, eventually becoming liquid democracies or digital direct democracies.