Whenever there is a new craze on the horizon, millions of people try to jump in and enjoy the benefits. The same goes for new investment opportunities, and it does not take long to see how humans behave when a new potential money-making chance presents itself to humanity. We have all heard about the famed gold rush in California during the establishing decades of the United States. People from all over the world left whatever they had behind for a chance to make it big in another, seemingly guaranteed to be a successful industry.
In recent decades, nothing has been as big and influential as cryptocurrencies. From the moment they appeared on the markets, they intrigued masses left and right. First, people involved in the tech business noticed them and immediately recognized the potential. Then, word got out and regular investors and average working-class people began asking around and investing. Nowadays, millions of people in far corners of the world do business in Bitcoin, the most popular digital currency, and other virtual currencies. Is there an end to this craze in sight, and what does the future of Bitcoin investment hold? To learn more about this, continue reading the article and make sure to visit techtimes.com to educate yourself on all things Bitcoin.
History of Bitcoin
To understand the potential future of Bitcoin, we must first remember how everything started. The story of the most valuable and widespread cryptocurrency started way back in 2009 when a man by the name of Satoshi Nakamoto mined the first Bitcoin on a decentralized network. This is when Bitcoin was established and when people began mining it everywhere.
In 2011, Litecoin was launched, followed by Ripple in 2012. These presented two biggest virtual currency competitors to Bitcoin, but it was clear from the start who the big boss is in this market. In 2013, this was proven when a single Bitcoin reached $1,000 in value. All digital currencies started to rise more than they fell. In 2015, the now second-largest digital currency was launched, Ethereum. Two years later in 2017, there were more than 1,000 registered cryptocurrencies available for customers to buy, sell, mine, and trade.
The most important event in the history of Bitcoin so far, except its introduction, happened in 2017. First, it skyrocketed way past the $10,000 mark around the middle of the year. Then towards the end of 2017, the worth of a single Bitcoin came very close to $20,000. After this, it fell again, but such a surge was enough for millions to start believing in Bitcoin and the cryptocurrency market in general. Although highly volatile with their spikes in worth, there are more people who are satisfied with their earnings and investments than those unhappy with it.
For Bitcoin to function, various things had to be established, and dozens more have to be working continuously. First, there should be institutional investors, the biggest of which include the Harvard Endowment Fund and Crypto Hedge Funds. Next, cryptocurrency exchanges need to exist for the users to be able to do business with their Bitcoins. The most famous include Coinbase, Bitstamp, Binance, Bybit, etc. Banks, finance companies, and tech giants also have to be on the same page. J.P. Morgan, Fidelity Investments, Swissquote, IBM, and Microsoft are all involved in the Bitcoin business. Finally, governments of countries have to provide seamless transitions and transfers, which is not often the case since they, nor the banks, can control digital currencies like they can traditional currencies.
Right now, the immediate future everyone is wondering about includes the time after the dreaded coronavirus pandemic. During the pandemic, BTC fell to almost $3,000, a number it has not seen for a while. Luckily, it did not last for a long time as it again rose to over $10,000.
Crypto experts and enthusiasts have never been more unsure about Bitcoin and do not know what and when could happen. What most of them agree is that the pandemic gave Bitcoin a new start, but nobody is certain if it needed one, to begin with. Like most other things, the post-corona world is going to be different from the one it came into, and many things will change.
There are those who expect it to fall like never before. Some say it will remain around the current worth of somewhere around $12,000. In the meantime, the optimists suggest another meteoric rise is on the horizon, one that will push BTC to new heights and make it worth hundreds of thousands of dollars.
Since 2020 does not mean to end anytime soon, we cannot help but label five years from now as somewhat of a distant future, especially in the sense of technology advancements. According to many experts who are very knowledgeable on the matter, Bitcoin will be worth as much as $341,000 by the end of 2025. Then in 2030, a decade from now, it will have a price of $397,727 per coin. The study ends with the year 2033 when it is estimated to fall to $395,270. This is an unreal increase when compared to the current value of less than $12,000, suggesting that nobody should stop investing in BTC. On the contrary, these are encouraging news that may potentially persuade new investors to try their luck in the Bitcoin game.
Other cryptocurrencies are also estimated to rise in the same period. Ethereum ($435) will jump to $3,549 in 2025, and to $3,644 in 2030, and then drop slightly three years later to $3,441. Litecoin ($62) will be $1,216, $2,252, and $2,299, while Bitcoin Cash could be worth $6,690 in 2025, $13,016 in 2030, and then $12,941 in 2033.
There is no way of knowing how much inflation there is going to be by 2025, 2030, and 2033, so things are far from certain. Still, the initial rise that is seemingly expecting us five years from now is clear enough proof that people should continue investing at least as much as they have until now. The future simply has to be bright following all the bad things that have happened to the planet in 2020, so make no mistake about BTC, good things are coming!