Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is unique in that there are a finite number of them: 21 million. Bitcoins have been around since 2009, but they only started gaining traction in 2013. Because of the finite number of Bitcoins, as well as their increasing value, Bitcoin has been drawing more and more attention from investors and businesses alike.
It is worth finding out more about the bitcoin method erfahrungen, with it being the cryptocurrency that everyone is still talking about. Bitcoin is one to start with if you are new to cryptocurrencies and also one to continue to invest in if you are an old hand at crypto coin investing.
So, what is the future of cryptocurrency?
Bitcoin’s price has been volatile, but it has generally trended upwards over time. In July 2010, one bitcoin was worth around $0.08. In November 2017, bitcoin hit an all-time high of $11,395. And as of June 2019, one bitcoin is worth around $8,700.
As bitcoin’s price has risen, so has its market capitalization, which is the total value of all Bitcoins in circulation. In July 2010, Bitcoin’s market cap was around $80 million. As of June 2019, it is around $160 billion.
Bitcoin’s price and market cap are both influenced by demand. When more people want to buy bitcoin, the price goes up. When there is less demand, the price falls.
The confidence of investors in cryptocurrency is vital to its survival. The good news with Bitcoin is that many investors will have more confidence in this one than the others because it has stood the test of time. It is the one everyone wants in their wallet as a cryptocurrency investor looking for some security.
It is all very well trying out new cryptocurrencies, which can be exciting, but you are increasing your investment risks because of many unknown factors. Be aware of scams too, when it is an entirely new coin that is being marketed as an investment opportunity. Sometimes it is better to stick with what we know and have been following for a long time through the various indexes.
Bitcoin’s future, however, does depend on two things: adoption and innovation. We shall examine these next.
Adoption
If bitcoin can continue to be adopted by businesses and consumers, it will likely continue to increase in value. For example, if more businesses start accepting Bitcoin as payment, demand for bitcoin will increase. This would likely lead to a rise in Bitcoin’s price.
We need to tell as many people as we can about Bitcoin because they are the ones that will ensure its survival. This includes wanting others to invest in it, after we have, to create the demand and push the price up of our investment. Also, you will want the top retailers to embrace the currency. The more we, in a sense, pester them to include it as a payment option, the more likely this is to happen. We are their customer and so the ones that they will most likely listen to.
Innovation
Innovation is also important for Bitcoin’s future. If Bitcoin can continue to innovate and offer new and useful features, demand for bitcoin will likely continue to grow. For example, the Lightning Network is a new protocol that could make Bitcoin faster and more scalable. If it is successful, it could lead to more people using and investing in bitcoin.
Any new Bitcoin feature will likely be embraced by the existing investor and be a reason for new investors to get on board with a cryptocurrency investment that includes Bitcoin.
So, what is the future of cryptocurrency? Only time will tell. But if bitcoin can continue to be adopted and innovate, its future looks bright.
