When Bitcoin was created, in January 2009, Bitcoin was worth less than a dollar, in 2017 it almost reached $20,000, the following year it crashed to $3,200, in 2019 it jumped again to $13,800 and these days it is approaching the US $40,000. That is why the future of Bitcoin is full of success stories in a relatively new market.
People can obtain the currency in a variety of ways, including mining, trading, and receiving it as payment for goods and services. Today there are many platforms for trading Bitcoin, unlike the years of cryptocurrency adoption.
There are some risks in trading bitcoins as its price is very volatile and mostly unpredictable. When it comes to trading, Bitcoin Trading becomes a security risk because all exchanges are digital and, as with all virtual systems, hacking, bugs, and malware are possible. There is also the risk of fraud. Fraudsters may try to sell fake Bitcoins.
Future of Bitcoin
Despite all that, a quiet Bitcoin revolution is underway. More than 300,000 stores in Japan accept cryptocurrency as a means of payment for a transaction. In ten years, more stores and merchants will start accepting Bitcoins around the world. This will increase both the price of Bitcoin in USD and the forex market.
Those who have achieved gigantic returns remain optimistic and argue that the success of Blockchain technology is a clear sign that cryptocurrencies will hit the clouds.
As more major brands endorse Bitcoin as a valid means of payment, ordinary people will be willing to use BTC and cryptocurrencies in general. This move will exponentially increase the value as there would be more demand with limited supply.
Bitcoin cannot yet be used as a medium of exchange. However, analysts predict that it would become a valuable store of value. It will serve as a means of keeping money safe from currency depreciation. This makes it a good investment.
With a price at the end of 2021 between US$30,000-US$40.00, its price is going to rise, as confirmed by the expert economists who predict the rise due to the Halving that will take place this month and why the harsh consequences faced by the markets international due to the pandemic that was experienced.