Previously, no one has been able to predict the future for Bitcoin; indeed not many investors would have guessed that it would reach the heights it has. 2020 saw Bitcoin reach some record-breaking numbers, smashing the previous records it held for 2017. 2021 has seen an increasing rise in the value of Cryptocurrency, but does that mean it is set to continue? Let’s look at the past of Bitcoin & what the future might hold.
What Are The Experts Saying?
With any investment opportunities, you’ll get mixed results when you speak to people in the know. With something as forward-thinking and versatile as Bitcoin, people have even stronger views on how it will do in the future. If you speak to people in the investment industry, some of them will tell you it is a complete no go and others will tell you that you’re missing out by not investing every single spare penny you have. So, who’s right?
READ: Unknown whale moves $272 million worth of Bitcoin
Well, truth be told, cryptocurrency isn’t an exact science so no one can say for sure. However, if you look at the facts the popularity of Bitcoin is certainly on the increase. For starters, the media have had heavy coverage of the virtual currency and how much it has risen in the past – and no one wants to miss out! With people wanting a piece of the pie, the chances are people who have maybe only dabbled in little investments previously will be considering Bitcoin as their next opportunity.
The fact that brands such as Starbucks, lots of internet cafes and plenty of online retailers are adopting Bitcoin as a legitimate way to pay for their services will certainly help the popularity of Bitcoin – you can even place a crypto sportsbet if you want! The accessibility of Bitcoin, in terms of both investing and spending, has improved massively and this is something that will certainly encourage people to pay attention to Bitcoin.
READ: Attractive yields expected to weigh on Nigerian & U.S stocks
Will It Be As Successful in 2021?
The world changed in 2020 and we’re all still working out what that means for many industries. However, this change has plenty of people considering their place in life and new investment opportunities. The chances are that Bitcoin will continue to be as successful as it has been in previous years – if not more so! It would only take a massive international retailer such as eBay or Amazon to accept it as a way of paying for goods and the value of Bitcoin would shoot up massively!
What Could Stop It Being Successful?
At the moment, Bitcoin is allowed to take place & to be traded. If any Government was to stop this it would undoubtedly affect its value. The chances of this happening are slim and certainly not within the next 12 months.
With Bitcoin being a great place to store your money without any real way to trace it, it remains a viable place to invest your money and this doesn’t show any signs of changing any time soon.
