Updated: Thursday, December 19th Contents. Read More. To that end, the scarce, deflationary quality of Bitcoin makes it totally unlike traditional fiat currencies, which are usually prone to inflation and even hyperinflation in the worst of cases.
That means as more investments pour into BTC, its price will likely continue to see upward pressure because there will be no supply response. Think about how when the price of oil surges, more companies begin producing oil, which then increases the supply and acutely deflates the price of oil accordingly.
No similar supply response can never happen with bitcoins. That means the BTC could potentially shoot up exponentially in future years.
But how high? Running the crypto-based Galaxy Investment Partners, Novogratz is betting big on the Bitcoin boom in general as his mid-term BTC price projection suggests.
Central Banks are capitulating. Fiat currencies going the way of Cowrey shells. Bitcoin is God. The day of reckoning is upon us. He knows the ecosystem as well as anyone.
Right with the institutional interest and news expected next year, be careful selling: only sell what you can afford to. John McAfee is best known as the creator of the popular McAfee antivirus software.
And his opinions are exceedingly bullish, to say the least. Especially if institutional interest keeps exploding. BTC has accelerated much faster than my model assumptions. I will still eat my dick if wrong.
But McAfee has even bolder ideas, to be sure. In an even newer Twitter exchange, McAfee explained that he believes the BTC price could reach into the billions one day. There are only 21 million Bitcoins.
There are 2 billion working people in the world. But if that insane price materializes, McAfee will end up looking like even more of a madman genius than he already is. The cryptocurrency expert and venture capitalist, Tim Draper, has also given its opinion about the future price of Bitcoin. According to him bitcoin and blockchain technology are one of the best things that happened for businesses. At the same time, he said that in the future Bitcoin could keep growing. About that, he is convinced that the cryptocurrency is the future and that the virtual currency market will gain its place among fiat currencies.
Why would I sell the future for the past? Why would I go and grab some weird fiat subject to the will of some governments? And I am really excited about all the extraordinary things that can happen because of crypto and bitcoin. Cameron Winklevoss is one of the two popular Winklevoss twins. The co-founder of the cryptocurrency exchange Gemini, stated that bitcoin could be worth 40 times its current value.
In order to explain why bitcoin could grow up to 40 times, he compared the cryptocurrency market capitalization with the market cap of gold. During an interview with CNBC he said:.
And so a lot of people are starting to se that, they recognize the store of value properties. He has also said that due to the fact that bitcoin has a fixed supply, it is still a very underappreciated asset.
Indeed, he stated that he and his brother believe that bitcoin disrupts gold. While speaking at the World Economic Forum in Davos, he brought some calm to the cryptocurrency market. But Mr Singh said that the kind of volatility that bitcoin experienced is not unusual nor unexpected.
In the past, Bitcoin suffered important corrections in just a few days. Cryptocurrency adoption keeps growing all over the world. In past articles we wrote that enterprises are investing in blockchain technologies and virtual currencies. Businesses all around the world, including small shops and merchants, are adopting bitcoin and other currencies as a means of payment. If the adoption trend continues, bitcoin could lead the market towards new all time highs. Additionally, payment processors are working with cryptocurrencies trying to spread their benefits.
Woah, right? Maybe not at all. Bitcoin was created in by Satoshi Nakamoto, an alias for a person or group who has still not been revealed. Over the years, it has hit many highs and lows, To better understand the past of this cryptocurrency, as well as its potential in the future, take a deeper delve into its history.
The very first transaction involving Bitcoin occurred between an early adopter and Nakamoto in January He famously spent 10, Bitcoins to buy two pizzas in in Florida. That transaction alone perfectly shows the dramatic change in value that Bitcoin has experienced over the years. The very first major jump in Bitcoin price took place in July At this point and in the following year, very few exchanges supported trading of Bitcoin.
There was also extremely limited liquidity at this time due to cryptocurrency still being relatively unknown. Unfortunately, the drop also followed suit. Following this dramatic fall, investors were hesitant about Bitcoin. This time, the crash occurred before Bitcoin reached its previous high.
This crash was much more significant than the earlier ones, with some calling it the first true crash. That crash was made up for by a rally in October and November of that year. The causes of this rally were fairly obvious to most people, as more miners and exchanges were supporting Bitcoin. In addition, China had entered the marketplace. Unfortunately, these new highs for Bitcoin were so far from the past figures that the price was very volatile.
The volatility was fueled by rumors of poor security on Mt. Gox exchange , which was part of about 70 percent of Bitcoin transactions of the time. When Mt. Gox filed for bankruptcy protection in February, another Bitcoin crash occurred. Between Feb. From there, the price of Bitcoin hit a more gradual decline. The most recent exciting news in Bitcoin history began in November and led to the current all-time high for the cryptocurrency. Securities and Exchange Commission rejecting a Bitcoin exchange-traded fund.
Summer of saw Bitcoin reaching a new all-time high. Unsurprisingly, each new milestone was followed by a quick drop in price and other turbulence. From there, Bitcoin had a steady rise.
By December, Bitcoin was on track to hit its all-time high thanks to a dramatic and steady increase in price. On Dec. By Feb. Bitcoin BTC. Live Bitcoin Price Today Bitcoin.
Bitcoin Price Speculation Price Speculation. Specifically, the tens of billions as he argues: There are only 21 million Bitcoins. Bitcoin Price History Price History. The First Transactions The very first transaction involving Bitcoin occurred between an early adopter and Nakamoto in January January Crash Following this dramatic fall, investors were hesitant about Bitcoin.
The Aftermath of Unfortunately, these new highs for Bitcoin were so far from the past figures that the price was very volatile.
Reaching the All-Time High By December, Bitcoin was on track to hit its all-time high thanks to a dramatic and steady increase in price. Views: ,
Are Bitcoins those coins I see in photographs?
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