Is now a good time to invest in bitcoins? Is there a potential for the price to grow even more?

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Bitcoin enthusiasts and the crypto community were assumed that the price of a bitcoin will hit 1000$. And hence it has happened during the end of the year 2016!

And then people assumed that bitcoin price could overtake the value of gold ! . hence it has happened recently , So again bitcoin proved its ability to become an alternate investment.

Understand that Bitcoin is currently being utilized by < 1% of global population. Bitcoin has many perks and benefits and its usage will only increase in the future. And here’s the important part: The total amount of Bitcoins is limited to a fixed number of 21 million total, while currently there are 15.7 million units.

At the moment BTC is comprised of only some billions of US dollars, while the big global financial markets have a daily volume of trillions. Bitcoin is still small, once masses adopt Bitcoin within the next 10-20 years, with the fixed finite amount of total Bitcoins ever created, what do you think is going to happen?

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Also there is an assumption is ruling the bitcoin marketplace. which is “the popular cryptocurrency, bitcoin could climb above $2000” at the end of 2017! The proof for hitting 2000$ has already provided in the previous statements.

The creation rate of new bitcoins is halving

 New bitcoins created will halve every 4 years. This is a fixed rule set in the Bitcoin protocol since the beginning and it activates approximately every 4 years. And in addition to the actual reduction in new bitcoins created, it is expected to have significant speculative meaning.

As you can see from the picture, most bitcoins have already been created

As a currency bitcoin is very different to national currencies such as the dollar or the euro. Bitcoins can’t be created out of nothing and the amount of bitcoins is predetermined and strictly regulated by the protocol itself. The maximum amount of bitcoins is 21 million and there will simply be no more. To this date 15,5 million bitcoins have been created.

Plans to get rid of cash are a gold mine for bitcoin

At least in some parts of Europe there seems to be an increasing movement to get rid of cash. The trend is increasing in many developed countries where digital payment methods have high adoption. However, from a privacy perspective cash is an important payment method and traditional digital payments methods leave a lot to be desired in that sense. Bitcoin is digital cash and any attempts to remove actual cash will increase the demand of bitcoin.

It is almost certain that all attempts to remove cash will increase the demand of cryptocurrencies and right now Bitcoin is the king of cryptocurrencies.

The usage of Bitcoin is increasing rapidly all over the world

The amount of transactions in the Bitcoin network is increasing rapidly.More goods and services are bought with bitcoin every day. Even here in Finland there have been multiple Tesla’s sold with bitcoin. In Latin America and South Africa the growth numbers of Bitcoin usage are impressive. In China bitcoin is used increasingly to move funds out of the country. And based on recent reports the use of Bitcoin is also increasing rapidly in India.

Read also-  Bitcoin,the first virtual currency that has the potential to turn the world economy on its head

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1 thought on “Is now a good time to invest in bitcoins? Is there a potential for the price to grow even more?

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