How Will Bitcoin Fare In The Future?

Digital cash system

The idea of a digital finance system has been around since it was first developed in 1989. Since then, its technology has been applied to various systems such as credit cards and transport cards all over the world. These applications, however, is still dependent on traditional currency systems governed and controlled by a central bank and the government.

The birth of decentralized cryptocurrency

The introduction of cryptocurrency has opened the possibilities of a decentralized money system that is independent and is self-sustaining. Though the concept has been introduced for quite some time now, it was only with Bitcoin that it took the spotlight in the finance world. Bitcoin is currently the most popular cryptocurrency, with a rapid growth recorded in the past few years.

Bitcoin’s rise in popularity

It was in 2017 when Bitcoin’s value evolved and rose to almost $20,000, which took the entire finance world by surprise. This sudden jump in value has put Bitcoin in the spotlight, with numerous finance experts talking about it and investors wanting to put their money in the popular cryptocurrency. Its popularity has eventually trickled down to regular individuals, and the demand to join Bitcoin trading grew exponentially. This eventually led to countless Bitcoin mining companies and Bitcoin trading platforms such as Bitcoin Revolution, offering the chance to earn a profit off of Bitcoin.

The uncertainty of Bitcoin’s value

The sudden rise of Bitcoin’s value was short-lived, as just a few weeks after it started to decline and has gone down to around $3,600 in a short span of time. Currently, Bitcoin is valued at around $7,000, a far-cry from the glory it used to experience. Though the value of Bitcoin has been stable for quite some time now, many experts have become skeptical about Bitcoin’s future considering the erratic behavior it presented in the past years.

The conflicting future of Bitcoin

Despite the volatility of Bitcoin’s price, predictions on how it will fare in the future is still widely varied and conflicting. Skeptics think that Bitcoin will eventually die down as it puts the cryptocurrency’s stability in question, but there are those that look at the volatility as an opportunity for tremendous growth, citing the technology behind Bitcoin as innovative and can have a wide range of applications that can be explored.

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