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  • How High Will Bitcoin Rise?

    Published on January 20, 2021

    It goes without saying Bitcoin is one of the greatest inventions in the financial sector. This cryptocurrency presented people with a new way to complete all of their digital payments. The reason as to why it became so popular in such a short period is because it holds tons of advantages over the FIAT currencies. 

    Some of them are faster transactions, self-sustainability, lower general fees, no hidden or added fees, and a certain level of anonymity. But, one of the biggest advantages that Bitcoin has is that people are capable of making money off of it. We all know how traders mine this cryptocurrency and then sell it, thus making huge amounts of profit. 

    Throughout the years, Bitcoin has had a lot of ups and downs and managed to break records in value. As 2020 is coming to an end, this cryptocurrency is on its way to make another boom in the financial industry and take over the world by storm one more time. We wanted to take a closer look into this topic and see whether Bitcoin’s value will reach heights like never before. But first, let’s see how people actually make money with it and what’s the current state of it.

    Where Can You Profit With Bitcoin?

    As we stated earlier, the way to earn Bitcoin is to mine it. Mining involves recording and verifying every single transaction made with this cryptocurrency. People who process this type of information are rewarded with Bitcoins for their effort. Every recorded transaction is called a block, while the log that contains all of the transactions is called a blockchain.

    After miners collect a certain number of Bitcoin, comes the hard part – selling them. Bitcoin is a currency which has a high volatility rate, meaning that its price goes up and down very often. Not many people can predict what the future price of it will be, which is why they turn to the experts for help. One of those experts is the official Bitcoin Future site. This platform uses an advanced AI system that creates algorithms which are able to predict the future price of Bitcoin with great precision. Their daily profitability rate is enormous, which is why the site has thousands of pleased users.

    Now that we’ve gotten this out of the way, let’s check out what is the current state of Bitcoin and does it have what it takes to keep increasing in value.

    Current State

    After breaking the record in 2017 and reaching a value of little of $19,000, Bitcoin plunged in a matter of 2 days and spent the whole of 2018 and most of 2019 trying to go back to its normal state. It eventually did and 2020 was the year when Bitcoin was finally stabilized and its value started going up at a controlled pace. 

    But, several indicators led many experts to believe that Bitcoin will surge again and will probably break the 2017 record. The volatility rate was at its second-lowest (the first lowest rate was in 2017, just before it reached its record value), the hash rate was back to its normality, the institutional interest was growing, the infrastructure was way bigger, etc. 

    And after months of waiting, Bitcoin did just that. Just recently, its value went over $20,000 and passed the 2017 record with ease. The current value of Bitcoin is around $22,000, a value that has never been reached before.

    But, there is a twist. Even though Bitcoin shattered the record, many experts believe that its value will still go up, which leads us to wonder, how much?

    The Potential

    The growing interest in Bitcoin is way bigger than the one couple of years ago, which is why experts think that even though Bitcoin has broken the record, this is just the beginning. Many of them have stated that by the end of 2020, the price for this cryptocurrency can go as high as $50,000, which is quite breath-taking. 

    These rumours were circulating a couple of months ago when the price for 1 Bitcoin was around $10,000 and that is why no one believed experts when they said that the price will be 5 times higher than the current one. Well, as 2020 ends, the wild statements might actually be true.