Bitcoin has gained enough popularity over the past few months in the world. We all are now aware of the Cryptocurrency market and how it is being operated. Bitcoins and other Cryptocurrencies or we can say, virtual currencies don’t operate by the Government or any institutions. The Virtual Currencies run on a network called Blockchain. All the transactions of Bitcoins and all the other Digital Currencies passes through Blockchain’s network.It will be interesting to know about bitcoin future.
From past 5-6 years, the pricing of Bitcoin has been increasing and it has reached to a new level. The currency has set down benchmarks in the Blockchain’s Network. This year, Bitcoin has seen a drastic change in its pricing from $20K to $10K. Many investors have earned enough money and some of them have lost it as well.
If you are planning to invest in Bitcoins, then you might be thinking about the future of Bitcoins first. Many of the investors have this common question before they can actually make up their mind on investing in Bitcoins. Let’s discuss some facts and figures of Bitcoins and other Cryptocurrencies.
What’s the Future of Bitcoins?
Many people have already decided that the value of Bitcoin will constantly decrease and there will be no good return with investing in Bitcoins, however, no one knows the bottom line of this market.
Bitcoins have seen all the changes in the market and the currency is still one of the best Cryptos in the market. It has survived market’s ups and down and steadily doing its own business in the market.
The platform is being used by fraudsters and hackers. There are many digital platforms now available for making online transactions of Bitcoins and purchasing and trading them easily. However, most of these platforms are not reliable and you might get lost all your money from such platforms.
If we talk about the facts and figure and the future of this Cryptocurrency, the Godfathers of the industries still believe that Bitcoins’ journey has just begun. This means that the value of Bitcoins will definitely increasing in the coming days which is good news for the investors.
Besides this, if you are still thinking about investing in Bitcoins or any other Cryptocurrencies, you need to consider a few things first. To give you the right information about Bitcoins and its market, here we have listed down a few things which you need to keep in mind before investing in Bitcoins.
- Capitalization of the Market
In the Virtual Currency, ever Investor first look for the Capitalization of a particular Currency. No doubts, Bitcoin has still a stable market and there are people who are still doing good business with the same currency.
- Maximum Supply
Many Cryptocurrencies are not easily available and when you plan for investing in a particular currency, you need to check for its supply. In case of emergency, whether the currency will be available for trading and exchanging or not. You need to check for the maximum supply of the currency as well.
Most investors flip their currencies by exchanging it with other Virtual Currencies. You can also check for the exchange rates and the history of exchanging that particular currency with other currencies. Check for the previous transactions and its values and you will be able to figure out the growth of that currency in the market.
When it comes to Bitcoins, you will not get disappointed as Bitcoin is still the best and high-valued Cryptocurrency available on the Blockchain’s network. The value of the currency is currently stable. It is the right time to invest in this currency as it will definitely grow in the coming months.
A huge boom in the over the counter trades (OTC) through services like LocalBitcoins. A similar thing happened in China when Chinese government banned cryptos in their country.
The trading volumes after the ban jumped from 38 million CNY (September 2017, at the time of ban) to 266 million CNY (January 2018, when exchanges fled China). You can see it for yourself in the LocalBitcoins chart below.
Experts Opinion On Bitcoin Future
According to the trending trading strategy tools and charts, the ADX is just above 20 opposed to 39.3 just last week at the time of writing. When the ADX is rising, the current trend is getting stronger. The opposite is also true when the ADX is falling, the current trend is weakening. Meaning, the negative trends of last week’s predictions have turned around and are now pointing Bitcoin in a positive direction
Listening to experts is never a proper way to investment (by itself), however. It is a start, but the best investments are made from diligent research and trade strategies completed by the individual investor. The current trend trading strategies tools are starting to show hope for a rise in Bitcoin price value $6440.52 +2.97%.
And what better coin to buy first than Bitcoin?
The market cap just one week ago was 105.5 Billion, this week it is $114,360,247,885. The Bitcoin network is currently growing, its technology is constantly improving, and one of the most popular US exchanges is allowing institutional money to have easy entrance to the crypto-world for the first time. How this will affect the value of Bitcoin
Bitcoin Price Prediction 2020
The first Bitcoin forecast that I want to discuss with you is by John McAfee, the creator of the popular anti-virus software McAfee. McAfee is well-known in the cryptocurrency industry because he makes lots of insane price predictions on Twitter, however, it has since been revealed that crypto projects pay him more than $100,000 to do so.
Anyway, in 2017, MacAfee said that Bitcoin would reach $500,000 in 2020, and if it didn’t, he would eat his private parts live on TV! If you didn’t think this was crazy enough, McAfee then increased his Bitcoin price prediction 2020 to $1 million! To be honest, he seems rather confident to me.
Prediction By Tom Lee
The next Bitcoin price prediction 2020 that I wanted to discuss is by an analyst called Tom Lee. Lee works for the cryptocurrency research organization Fundstrat and he is well-known for discussing the price performance of Bitcoin live on TV. According to Lee’s Bitcoin forecast, the cryptocurrency will break its all-time high in 2017 by reaching $25,000.