Bitcoin is one of the technologies with the potential to transform the global banking market and the way we think about payments in the future. This cryptocurrency is now making headlines all around the world thanks to the fact that it achieved a historical landmark when it’s worth surpassed $60,000, a staggering 200%+ from the 6 months prior to that! Since reaching its all-time high in 2021, few people believed Bitcoin could ever achieve the same level of success again. The confidence was restored after multiple reasons suggested that Q3 in 2021 will be the time for Bitcoin’s price to increase again. (Read more on 2021 price predictions on Forbes.com). When we listed what it is currently worth, you can see that it not only surpassed the odds but also exceeded the hopes of those who thought it could hit a new milestone. Looking forward, what are a few of the possible outcomes for Bitcoin and the other cryptos?
Scenario 1: Bitcoin thrives as digital gold
Bullish
Bitcoin’s popularity grows, more consumers are becoming interested in using the blockchain as their primary payment tool. We decided to go past the moment to clarify what this cryptocurrency’s future brings. Hundreds of millions of people benefit handsomely. Bitcoin’s technology is expanding, and now is the right time to put the time, effort, and resources into it. The present valuation is much greater than all of us should have expected. Let us clarify how traders on platforms like Investcap make money with Bitcoin. In conjunction with account managers, trade positions have placed either backing that the value of Bitcoin or other cryptos will rise or fall. CFD Trading allows them to potentially profit off of the rise or fall of the value. Experts will assist you in this endeavor. Thousands of people use this and other sites, and it has a very high potential high-profit margin. Sites like this one employ analysts to study Bitcoin and other crypto market data and, using algorithms, speculate the future price of Bitcoin with considerable accuracy. This data enables you to determine the right time to buy/sell, allowing you to optimize your committed cash and maximize profit possibility.
Scenario 2: Bitcoin is strangled by regulation
Bearish
Headline “Bitcoin is being prosecuted in Nigeria and India. Rest of the planet to follow suit?” Will this affect the crypto market? – For sure. Will this mean the end of Crypto? – Absolutely not. Economics 101. A decrease in supply coupled with a maintained or even increased demand will potentially shoot the value through the roof. Rather than eliminating Bitcoin, bearish policymakers will just drive Bitcoin out of their countries. Eliminating the use of crypto will be next to impossible, especially if we consider scenario #3.
Scenario 3: Bitcoin to the Moon!
Bullish
Bitcoin’s “ascension to the moon” is no longer just a possibility, but a reality. Analysts expect that by 2030, “we will have a spacecraft on Mars that will perform a crypto-transaction via satellite.” SapceX founder, Elon Musk, the world’s most influential aspiring Mars colonialist, is now a vocal Bitcoin bull. On Twitter, Musk recently said that Bitcoin is “almost as BS as fiat money,” but that “the keyword is ‘almost.'”. “They’re not going to pay in cash” on the red planet.
Most analysts believe that Bitcoin has the capacity to become the world’s first globally standardised payment mechanism in the future. As previously said, this cryptocurrency is now used by millions of people every day, and its infrastructure continues to grow with no signs of slowing down. These researchers believe that when Bitcoin’s popularity increases, governments across the world would be forced to accept it as a legitimate method of payment. Bitcoin will be used by the majority of the world’s population, enabling policymakers to make it the worldwide universal payment mechanism, due to the many advantages it provides over central banks.
Conclusion
Bitcoin provides its users with a form of online anonymity which makes it totally tailored for use on the internet… Anonymity offers the requisite protection to keep users safe in a world where thousands of people are victims of online scams. Bitcoin is, after all, a digital currency. Other payment methods take a few days to process because they have a processing time limit. For Bitcoin, though, this is not the case. Finally, let’s point out one of the most significant benefits: it helps people save money. How does it do that? Since Bitcoin is not owned by banks or states, it is impossible for them to enforce secret or additional taxes or fees. Furthermore, the costs for international and other transfers are greatly reduced. Whether Bitcoin is bullish or bearish, we, the people, can potentially profit from both, by buying coins and trading on a platform like Investcap. The fact that Bitcoin has several advantages over fiat currencies is one of the reasons why it has gained so much attention, investment, and shows no signs of slowing down.