Friday, July 1, 2022

Will Bitcoin Exist in The Next 10 Years?

As a bitcoin investor, you might keep wondering about the future of bitcoin. You might be worried if at all it will exist if the value will be amazing. A crypto currency investor is very concerned about bitcoin predictions. Any news about bitcoin and its future never passes them. If you want to learn more about currency conversion and forecast of cryptocurrencies, you can check it here: https://safetradebinaryoptions.com/usd-to-btc.

Bitcoin has existed for a couple of years now. Bitcoin emerge in 2008 where it was the first crypto currency. Until date, bitcoin is named as the most valuable digital currency despite of having a couple of competitors. Bitcoin being a digital currency does not have government regulations or bank control. In 2009, it was introduced to the market with a price. To acquire a bitcoin, you have to mine. The process is known as bitcoin mining. Bitcoin mining is one of the factors that affect bitcoin prices. For instance, if mining a bitcoin will need more money to mine, the price per bitcoin will rise. 

Bitcoin creator had the aim to provide people with a digital currency that is fast and reliable, and dos not need authorization for use. This has become the new way of transacting where you can transact with people globally. The governments however dislike the bitcoin idea since it is decentralized. This means that without track control, there will be rise of more criminal activities. Back in 2009, many people did not know of bitcoin’s existence. However, over the years now, many people have heard of bitcoins and more people have invested in it. 

How did bitcoin rise?

In the crypto currency market, bitcoin has the largest share. It is ranked the most valuable and convenient in the world. Bitcoin mining should not exceed 21 million, and in case it exceeds, no new bitcoins will be available. The value of other crypto currencies is dragged by bitcoins. Over the years, the value of bitcoins has been rising Here are some reasons why bitcoin prices go up. When bitcoin was released to the market, the creator set some regulations such as prices and how to buy and sell. Since the regulations are set at the beginning, they never change. This made bitcoin a rare resource in the world.

Bitcoin was valued at $ 1.49 billion in 2020 and the value increased to $ 1.63 billion in 2021. In 2021, bitcoin valued over $60k, which was the highest price in the bitcoin history. In the beginning of 2021, the bitcoin traded at $29k and by end of that year, it rose to $46k. Unfortunately, in June 2022, the value of bitcoin dropped to $21K, which left many investors at shock. This has brought upon many questions concerning the future of bitcoins in the next decade.

About bitcoin

When you compare bitcoin to other resources, you find out that bitcoin, as a couple of advantages such as it is easy to store and transfer. Storing bitcoin is doe online and you do not need a physical space. Unlike other resources such a gold, you are out of risk when it comes to theft n regulations. With proper internet connection, you can transfer your bitcoin to anyone in the world at the comfort of your house. This attracted very many investors, especially rich people.

Bitcoin is electric cash meaning you cannot buy anything with it. For example, when you visit MC Donald’s and a snack goes at $4, and pay via bitcoin. Then in the next two days, you find out that the same bitcoin has a value of $40, means that you purchased the snack at $40. Bitcoin is very volatile. Most experts state that it is volatile due the immature market. The regulations also keep changing from time to time, which makes bitcoin value change from time to time.

Existence of bitcoin in the next 5 years.

Bitcoins will be available in the next five years. The value I unknown given the current state. However, when bitcoins were introduced in the market, their value was not even half of the current value today. This gives many investors some hope and look on the brighter side hoping for the best. The value will rely on how the regulations will affect them.

Existence of bitcoin in the next decade

Studies show that in the coming decade, bitcoins’ value will have increased by over 50% of the current value. The bitcoin investors are likely to go on investing. When rich investors join the market, there are high chances of high value. The market value of BTC I estimated at $5 billion. Currently, governments have started introducing BTC as a currency in their banks. This shows that in the next ten years almost every country will transact through bitcoins. With more popularity, bitcoin will gain more users, which will become a common currency in the world. 

Currently, some banks have already adopted the use of digital currency. The world is growing technologically, whereby we all want a fast means of payment. The next ten years, most people will use bitcoins since technology is already changing the normal way of living. Some governments like Japan have already started using bitcoins as a method of payment. However, the issue of security has delayed some governments where they are not sure about implementing bitcoin use. In most cases, the government want to regulate the bitcoin activity for purposes of protecting investors and taxation.

Will bitcoin exist in next 20 years?

It is quite hard to predict the existence of bitcoin in the next twenty years. With the current situation, some experts think that bitcoin will be overtaken by other crypto currencies, while other state that bitcoin will exit and at higher value. There is a higher number of investors who claim that bitcoin will be the future currency. The main advantage is that if bitcoins will be a common currency in the world, you will not have to go through currency exchange processes. The economy of the whole world will develop at a very high rate during the time.

Conclusion

Bitcoin is the future currency of the world. Many people are continuing to get a better understanding of how it works and are enjoying using it. In the next decade, there are high chances that bitcoins will be used as a common currency. The value of bitcoins s also predicted to be higher than today.