Does Bitcoin Even Have A Future?
Bitcoin is the “father” of all cryptocurrencies that managed to become the very first decentralized currency in the world with no chances to be cheated. Thanks to the revolutionary “blockchain” technology, it is simply impossible to get Bitcoins in any illegal way. The blockchain provides for the new verification process that is attached to each cryptocurrency transaction. Bitcoin has indeed managed to make much noise in the modern world, but what’s next? Does this cryptocurrency have a future? What will it be? Let’s sort everything out.
World Changing Technology Today And Tomorrow
Despite being in production since late 2008, Bitcoin has become the main topic of discussions only in 2013, when its price soared significantly. As we have already mentioned, Bitcoin lives in the “blockchain” network that has already changed the world of online payments. Bitcoins enabled instant P2P (person-to-person) payments that can be performed without any intermediaries. What is also interesting about Bitcoin is that its production is limited to 21 million coins. As of now, there are around 18 million Bitcoins already in existence, with over 1,800 new Bitcoins being mined every day. So, there are not so many Bitcoins left to run out of stocks. The question is, what will happen to Bitcoin when all the coins will be mined? In order to answer this question, let’s see how the Bitcoin price has been changing over time.
In the first half of 2013, Bitcoin could be bought for $10 only. At the end of the same year, the price of the cryptocurrency reached an unbelievable $1,160 point, which caused quite a stir in the entire world. For the next couple of years, however, Bitcoin was decreasing all the way down to $200. The real turning point in the history of Bitcoin was December 2017, when it was trading at over $20,000. This event has galvanized worldwide attention, with thousands of discussions around the Bitcoin price are being held every single day.
While in the late 2000s, Bitcoin was a little-known “something” that can be used for online payments, now, everybody knows what Bitcoin is, and it can be bought and used in many land-based retail outlets. For example, BitAccess – one of the greatest Bitcoin ATM producers – announced that the Canadians would have an opportunity to buy Bitcoins in more than 6,000 different stores across the country using the Flexepin cards. It provided the new opportunities for using Flexepin for comfortable online gambling with cryptocurrencies, as well as for using Bitcoin as the main payment option.
Predictions On The Price
Bitcoin has produced a lot of millionaires and bankrupts, as this cryptocurrency is highly volatile, which makes it a perfect object of tradings. Even those people who have never been involved in trading are actively monitoring the cryptocurrency market to catch the best Bitcoin price and then sell it for the highest price.
Most media portals call Bitcoin a “bubble” that is about to pop. You can find hundreds, if not thousands, of articles saying that Bitcoin is “dead”. However, the truth is, the “bubble” is always being inflated again and again. Every time the mass media is about to burry Bitcoin, it becomes better, increases in price, proving that it’s still alive. So, what do experts think now about the future of Bitcoin?
Predicting the price of such an unstable cryptocurrency like Bitcoin is not an easy task. Bitcoin is supposed to cost anything from $10,000 to $10,000,000. Many experts claim that 2020 will becomes the next turning point for Bitcoin. John McAfee’s, for example, made the most famous Bitcoin price prediction. He is pretty much sure that Bitcoin will reach $1,000,000 by the end of 2020. More than that, he issued a hype-driven public wager, according to which he will eat one part of his body in the case Bitcoin won’t reach that point in 2020.
Anyway, even though there are lots of interesting thoughts and theories related to the cryptocurrencies’ “father”, the future of Bitcoin is still unclear. The only thing we can say for sure is that Bitcoin is not “dead”, and it will definitely get to the headlines again.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
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