What the future holds for bitcoin?
2021 has been nothing short but amazing for Bitcoin. This cryptocurrency reached heights that none of us thought are possible. Back in April, its rise culminated after it reached a record-breaking price tag of over $63,000. There’s no denying the fact that Bitcoin is the most dominant cryptocurrency on the market and that is the reason why a majority of crypto users have invested in it.
So, with that being said, we wanted to say a word or two on Bitcoin’s current state, but our main focus will be the future of this cryptocurrency. We are going to see what experts think of its future price, legality, future acceptance rate, etc. Let’s start with Bitcoin’s current state.
Bitcoin’s current state
After reaching its peak value back in April, Bitcoin has been on a decline and currently sits at around $30,000 to $40,000. The fact that it experienced a drop in value is actually the reason why thousands of traders are now joining and investing in it each day.
As you are familiar, Bitcoin’s price has cycles, meaning that if it goes down, there will definitely come a point where it will rise. And each spike in value is higher than the one before. That is expected to be the case here.
What’s even better is the fact that if you are not looking to make a profit with Bitcoin, you can also use it as a payment method. There are many companies around the world. Global brands included, who accept Bitcoin as a payment method. Countries have become extremely lenient towards it and that makes it easier for them to process transactions made with this digital asset.
If you are wondering how can you earn Bitcoin, the best solution is to buy it at trading sites. Reputable platforms such as Bitcoin Profit will allow you invest in BTC immediately. The only thing that you need to do is register on this platform. You can find more details here, and learn about the AI-powered trading system and the trading process on the platform. Now, let’s see what the future holds for this cryptocurrency.
Future value
Just as we stated, Bitcoin’s price has cycles. Its drops on one cycle and rises the next. Since Bitcoin has been on a decline these past couple of months, experts believe that we will experience massive growth in the upcoming months. Many of them think that Bitcoin has the potential to rise to as much as $100,000 by the end of the year. If this milestone is not reached in 2021, then it will definitely be reached in 2022.
As for the more distant future, Bitcoin is likely to be worth around half a million dollars in 2030. After the halving event in 2032 ends, it is speculated that 99% of all Bitcoins will be mined and that is when Bitcoin will start rising in value rapidly. Experts think that Bitcoin is likely to reach $1 million in 2037.
Country acceptance
These days, there are some countries like Russia and China who oppose Bitcoin. But recently, El Salvador has become the first nation in the world to fully legalize Bitcoin. What’s even better is the fact that many other countries are becoming lenient towards it.
Now, it is hard to determine whether authorities will make Bitcoin a legal tender, but we can say that El Salvador will have a massive role in it. If this country proves that it can easily handle its financial matters by legalizing Bitcoin, then we believe that many countries will follow suit. After all, Bitcoin is superior to regular payment methods and is considered a future concept.
