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what made bitcoin rise in 2020

In this Bitcoin price prediction guide, I will first give you a quick overview of what Bitcoin actually is, followed by a brief explanation of the things to consider before you invest heavily based on a price prediction guide just like this one!

After that, I will then discuss some popular price predictions for the year and let you know my thoughts on each of them.

Finally, I will then discuss some of the upcoming real-world events that could affect its price movement going forward. Bitcoin allows people to send and receive funds without a third party intermediary and as such, it is a decentralized payments system.

The network is controlled by no single person or authority, nor is it backed by any central bank. In return, miners are rewarded with additional Bitcoin for contributing to the network. The technology that supports Bitcoin is called a blockchain , which is like a giant accounting book.

Every single transaction that has ever been processed on the Bitcoin network is available to view on the blockchain. Furthermore, once a transaction has been added, it can never be changed or removed — which makes it extremely transparent.

When sending Bitcoin to another person, a transaction normally takes about 10 minutes. In total, the network can process about 7 transactions per second and fees depend on how many people are using the system.

The Bitcoin project has been an amazing success — when it was first released in , its price was less than 1 cent. Not only this, but the creation of Bitcoin has encouraged more than 1, different cryptocurrencies to enter the market to date. In reality, nobody can predict the future of a cryptocurrency, but if we could, we would all be billionaires. In the cryptocurrency world, prices are very volatile. This means that the value of a coin can go up or down really quickly, with often no explanation as to why.

This makes predicting prices much more difficult than traditional markets. When considering the future value of a cryptocurrency, it is always better to look at real-world events. This can include improved technology, future roadmap objectives, new partnerships or even regulations. The most important thing is that you always perform your own independent research before making an investment.

Never buy a cryptocurrency just because a price prediction excites you, or because your favorite YouTuber told you to!

At the end of the day, everyone has a different opinion and there is no guarantee that anyone will get it right. So, now that you know what to consider when reading predictions, the next part of my Bitcoin price prediction is going to analyze some well-known Bitcoin predictions.

To be honest, he seems rather confident to me. McAfee claims that his prediction is based on his own price prediction model, however, nobody knows what this looks like. Market capitalization is used to work out the total value of an asset or business. It is calculated by multiplying the current market price against the total amount of coins or shares in circulation.

The next Bitcoin price prediction 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. This particular researcher is highly experienced in chart analysis. This is when you look at historical price movements of a coin and then make a future prediction based on how the coin has moved in the past.

In reality, Bitcoin is probably the only cryptocurrency that you can do chart analysis for. This is because other coins do not have enough trading volume or enough historical data, whereas Bitcoin has a track record of 9 years! The next Bitcoin price prediction I wanted to talk to you about is a really interesting one, performed by the analyst Osato Avan-Nomayo from Bitcoinist. This prediction is based on the fact that in the Bitcoin mining reward will be halved from As you will see from the chart below, the Bitcoin mining reward has halved twice in its history.

The historical price chart shows that when these two events happened, the price of Bitcoin experienced new heights shortly after. Strajnar argues that adoption rates are increasing all the time, which includes more and more people using the network and an increase in wallets and apps.

This is a good argument because as more people buy and use Bitcoin, its price will of course increase. In fact, in countries such as Japan, there are more than , stores that you can spend Bitcoin in the real world. So, this also helps increase the price as it gives the cryptocurrency real-world usage.

So, what do you think of the Bitcoin price predictions I have listed above? Do you agree with them, or are you still not convinced? I mentioned earlier that one of the most important things to consider when looking at the Bitcoin future price are real-world events, such as technical advancements and regulations.

I have listed some of the things below that could affect its price. Although Bitcoin is number one cryptocurrency in terms of market capitalization, reputation and real-world usage, the performance level of its transactions are actually quite poor. In fact, there are many other cryptocurrencies that are faster, cheaper and more scalable. Firstly, it takes 10 minutes to confirm a transaction on the Bitcoin network. Other coins such as Ethereum can verify transactions in around 16 seconds.

Secondly, Bitcoin fees are now much higher than they used to be and now cost dollars rather than cents. Thirdly, and probably most importantly, Bitcoin can only confirm 7 transactions per second.

For example, NEO and Ripple are able to confirm thousands of transactions per second, so if Bitcoin is to become a global payments system then it must improve technically. A company called Lighting Labs which has received investments from senior individuals from Twitter, PayPal, and Litecoin are very close to releasing a protocol that will significantly improve the performance of Bitcoin transactions.

Known as the Lighting Network upgrade, it is believed that the protocol could allow the Bitcoin network to increase its maximum transaction limit to millions per second. Furthermore, transactions will also be much faster and cheaper.

If the Lighting Network is successful then it should have a very positive effect on the price of Bitcoin. Even though Bitcoin has been trading for almost 10 years, regulation is still in its very early days. There appears to be a theory that when governments start regulating it, the price of Bitcoin will be negatively affected. In , Japan became the first nation in the world to completely regulate Bitcoin in the same way as its financial services industry.

In fact, the Japanese government classes Bitcoin in the very same way as its Yen currency. Since this happened, Japan now has the highest trading volume in the world for Bitcoin. People also use it every day in the real world as there are over , stores that accept it! Once other major nations follow the same regulation policy as the Japanese government, it will give Bitcoin far more legitimacy.

Not only would this mean that people start to trust Bitcoin more, but it could also allow large financial institutions to start investing. Ultimately, if this is the case, the price of Bitcoin should increase.

As mentioned above, there are more than , stores in Japan that accept Bitcoin. Although there are also stores in other nations such as the USA and UK, the amount of stores is rather small. As more and more companies start to accept Bitcoin, it will allow people to start using it as an actual currency.

On the other hand, if a really popular app decided to start accepting Bitcoin as its main currency, this would also give the coin more value. Essentially, if Bitcoin can increase its real-world usage, we could see one of the really positive Bitcoin price prediction come true. Although Bitcoin has always been the number one cryptocurrency, it is important to remember that there are more than 1, different coins in the market.

Although most of these projects have been built on top of other blockchain protocols such as Ethereum, there are also lots of individual blockchains, too. There is no guarantee of which cryptocurrency will dominate in the future, so you should always research and keep on top of what other projects are doing.

Furthermore, various central banks and governments are considering releasing their own cryptocurrencies too, which could be in direct competition with Bitcoin. Before I give you my own personal opinion, I wanted to make it clear that I am not giving you financial or investment advice. Just like the predictions I discussed above, nothing is ever guaranteed. You should always make a decision based on your own research, so please consider that.

Anyway, overall I believe that there will be multiple cryptocurrencies that play a major role in the future of transactions. However, I think that Bitcoin will always be the most trusted and stable cryptocurrency of them all. Instead, I think it will act more as a store of value. Note: A store of value is where people buy an asset to keep their money safe, just like Gold and Silver, in the hope that it increases its value.

In my opinion, although Bitcoin has been around for 9 years, it is still very early days. If more countries start to regulate it as Japan did, then I think it has a really good chance of increasing its price by However, in the very near future, I think the biggest event could be the installation of the Lighting Network upgrade.

However, if you bought Bitcoin in late and held it up to now, you would be significantly down. If you believe in the ideology of the project, then it is best to hold your Bitcoin long-term, because at the moment the markets are still very volatile.

If you have read it from start to finish, you should now have a really good understanding of what Bitcoin is and what it plans to achieve. Do you agree with any of these Bitcoin forecast models or do you see a different story? If so, do you think its price will go higher, or alternatively, lower? I also discussed some of the future developments that could affect the price of Bitcoin, including an upgrade of its technology, regulations, future partnerships and its competition.

Do you agree with me that over the long-term, Bitcoin could be used more as a store of value, or do you think it will follow the original plan of its creator and be used as a medium of exchange?

Whatever your thoughts are, please let me know your Bitcoin price prediction in the comments section below! Save my name, email, and website in this browser for the next time I comment. Bookmarked and shared. Thanks once again! This article gives good idea about the bitcoin prediction. Slow processing time is the reason why bitcoin is not adopted as mode of payment by many. Because of this less and less people believe in it. Because of that the price of bitcoin is at a free fall.

what made bitcoin rise in 2020

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Bitcoin has been on quite the journey since its inception in Nobody had really heard of the technology in the early days, and fewer still understood how cryptocurrency could have any real world application. Now more established as a technology, but bitcon fluctuating heavily on price, how will Bitcoin fare in the upcoming year? Anybody who tells you that they know for sure how much Bitcoin will be worth at a given time, is either lying to you or deluding themselves. Nobody truly understands the market yet, not even expert market traders. What we can do right now is examine past trends.

Bitcoin Price

By fun hung , October 12 in Bitcoin. I do not think that Bitcoin will rise because there are many people who have a lot of it when people lack Bitcoin and when the owners of companies become the largest number almost nothing left when people will explode and exceeds and 30, dollars. Initially, the main value of Bitcoin was that it is not enough for everyone and a person always wants to possess what other people do not have. If the governments of the world provide stable governance with stable financial environment, where is the need of Bitcoin. People are drawn to bitcoins, because the governments are failing in all fronts. You look at the dollar or any fiat currency of any country, its an inflated balloon. Governments keep printing notes without any inhibition.

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By fun hungOctober 12 in Bitcoin. I do not think that Bitcoin will rise because there are many people who have a lot of it when people lack Bitcoin and when the owners of companies become the largest number almost what made bitcoin rise in 2020 left when people will explode and exceeds and 30, dollars.

Initially, the main value of Bitcoin was that it is not enough for everyone and a person always wants to possess what other people do not. If the governments of the world provide stable governance with stable financial environment, where is the need of Bitcoin. People are drawn to bitcoins, because the governments are failing in all fronts.

You look at the dollar or any fiat currency of any country, its an inflated balloon. Governments keep printing notes without any inhibition. Whats backing these fiat currencies. On what basis is this printing going on.

There needs to equivalent amount of gold or assets against the currencies issued, how many of the governments are doing. Who knows whats in their treasury, as such you might just be holding a piece of paper. But Bitcoin has no such issue, coz you cannot issue it. It has a finite quantity, it will never what made bitcoin rise in 2020. Second, you look at Venezuela, what is going on. You look at India and Pakistan, always at a brink of Nuclear war, and China's hegemonistic plans, and then you factor in global warming, and its immediate effects in the next hundred years, and now you get the picture, how Bitcoin will become the most prized commodity in the world.

So to answer the question, will bitcoin rise inI what made bitcoin rise in 2020 know, but within the next half century, unless some revolutionary technology dont outdate bitcoins, it will go as high as predicted.

From my study Price will start going up from January Then after 4 what made bitcoin rise in 2020 at price started going up to 20x. I think we need another 4 years to build up. Market is going under major correction. I maybe wrong but this is my prediction. Nobody really knows, but if I was to take a prediction I would say it will continue goes sideways until mid and reach an ATH.

But that's just a personal hunch XD. The world is now quite chaotic, war, borderless business, Everyone wants to hold their money. But the society is very unstable. Bitcoin can solve this problem. I predict that Bitcoin in will most likely go up because there will be many cryptocurrency events. No one can be sure that It will be increased or not? Yes, because many people understand about crypto, they will use them as second options fo transaction.

I think some of us do not know it and me among them, only if some time later more companies enter the BTC world, will give more credence to this currency. No one knows but i hope the bitcoin price can rise in what made bitcoin rise in 2020 I think you're very pessimistic, a little more hopeful. It is quite difficult to give guarantee for a precise date. Be comfortable. I'm actually very sure that bitcoin will rise inbitcoin is still very unknown, only some people know because they overheard it.

I think that bitcoin will rise init has been enough of downfall from and now you can see it has started rising also on halving of bitcoin will play a major role to push the price of it.

It all depends on the major holders click at this page bitcoin. I think they are not interested in selling their assets at a low price. I think Bitcoin will grow in And other cryptocurrencies. Although I could be wrong, of course Just waiting and see All is the best for BTC. If it were to go on the same idea that we went through in the past years, we notice that before the reward is doubled, the price will double or triple.

So, god help be that way. You need to be a member in order to leave a comment. Sign up for a new account in our community. It's easy! Already have an account? Sign in. By SuzanDecember 9 in Crypto World. By yahyalOctober 11 in Crypto World. Search In. Will Bitcoin rise in ? By fun hungOctober 12 in Bitcoin crypto-world. Recommended Posts.

Posted October Share this post Link to post Share on other sites. I think it will go. Posted October 12 edited. Edited October 12 by rocsus. We need to see 2 issues: - the need to hold Bitcoin - Bitcoin benefits for society The world is now quite chaotic, war, borderless business, I realy dont know where people get ideas to predict price of BTC?

I think, that only good prediction is that long term will go up and down a lot of times Create an account or sign in to comment You need to be a member in order to leave a comment Create an account Sign up for a new account in our community. Register a new account. Sign in Already have an account? Sign In Now. Go To Topic Listing. Can i sell my 1 LTC? Better way to improve clean knowledge about bitcoin?

I have no knowledge about this qubix project on the yobit exchange But many peoples says that this is a fake project than the other projects. And these projects are the dead projects. First, Bitcoins are impossible to counterfeit or inflate. Second, you can use them to send or receive any amount of money, with anyone, anywhere in the world, at very low cost.

Third, with Bitcoin you can directly control the money yourself without going through a third party like a bank or Paypal. Fourth, Bitcoin transactions cannot be reversed or refunded. You should only deal with businesses or people you trust.

All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. Seventh, you can get bitcoins by accepting them as a payment for goods and services or by buying them from a friend or someone near you. You can also buy them directly from an exchange with your bank account. Eighth, there is a growing number of services and merchants accepting Bitcoin all over the world.

You can use Bitcoin to pay them and rate your experience to help honest businesses to gain more visibility. Ninth, the Bitcoin industry is always changing and there are many Bitcoin news services to stay up to date. Copay is also a good option for businesses due to a shared account feature, which requires a certain number of users to sign each transaction. Two co-founders, for example, could create a 2 of 2 wallet where both will be required to sign each transaction.

The simplicity and easy-to-use security makes it a great place to start for users who are new to bitcoin. This type of account creation is easier for less technical users who may have trouble backing up or understanding HD seeds.

Best Bitcoin Software Wallets Bitcoin software wallets are downloaded to your computer, give you more control and do not depend on third-party services. Most software bitcoin wallets require a day or so to download the blockchain before they are ready for use. Best Hybrid Bitcoin Wallets Hybrid Bitcoin allow you to both control the private keys and have the easy of use of a web wallet.

Best Bitcoin Web Wallets Bitcoin web wallets are the easiest and most convenient to use but are potentially less secure than the above options because the private keys to your bitcoins are usually held by what made bitcoin rise in 2020 third-party.

Due to the large number of security breaches where people have lost bitcoins, we do not recommend any of the current Bitcoin web wallets. They provide the benefits of a software wallet and is easy to use across many devices. Best Bitcoin Hardware Wallets Bitcoin hardware wallets are the most secure because they do not expose your private keys to the network.

Below we have listed some of the best exchanges. European users can purchase bitcoins with 3D secure credit or debit cards.

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In particular, the American economist, the former head of the Irse, Alan Greenspan called bitcoin a bubble without inherent currency value. Bitcoins first block reward was 50 BTC. It is understandable that people seek to make a promising whhat and Bitcoin looks like a great choice for it. Bitcoin allows people to send and receive funds without a third party intermediary and as such, it is a decentralized payments. The most important thing http://trackmyurl.biz/what-happens-when-21-million-bitcoins-are-mined-422.html that you always perform your own independent research before making an investment. People also use it every day in the real world as there are overstores that accept it! His Bitcoin journey started with an investment back inand by he had included Bitcoin in his hedge fund, general fund, private account. While Mr. Bitcoinn what made bitcoin rise in 2020 help me about chart and bitcoin price in future???? This prediction is based on the fact that in the Bitcoin mining reward will be halved from For example, NEO and Ripple are able to biycoin thousands of transactions per second, so if Bitcoin is to become a global payments system then it must improve technically. Lots of traders would like to see another panic sale, but perhaps Bitcoin will not present give us such a gift this time. In total, the network can process about 7 transactions per second and fees depend on how many people are using the. The Wha price can go up from

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