What Does The Next Decade Hold For Bitcoin?
The last couple of years has seen Bitcoin grow steadily in value, aside from a couple hiccups along the way. Today the cryptocurrency is climbing back toward its recent highs. More retailers are accepting Bitcoins as a settlement currency, and as the upper limit of 21 million Bitcoins is reached it is almost inevitable that the value of Bitcoins will begin to climb at an exponential rate. That is still a fews years away but what about Btc next decade?
Some well-respected analysts suggest that within 5 – 10 years the value of an individual Bitcoin could be in the region of $100,000 and that the coins could make up about 10% of the global foreign exchange market.
However, there are those who are even more bullish.
BTC next decade
Wences Casares who is CEO of bitcoin wallet operator Xapo and sits on the board of PayPal says that the cryptocurrency could hit as high as $1m inside of ten years.
Although this may be seen by many as wildly optimistic there is a certain logic behind his reasoning. In his opinion, the Internet itself lacks a strong currency which uses a secure method of conducting transactions. It can be difficult recognizing the signifigant difference between a decentralized deflationary currency like Bitcoin versus the centralized and inflationary fiat. For several generations we have been using a currency that looses purchasing power year after year. This comes to an end with the mathmatically limited quantities of most cryptocurrencies.
Trouble in Conventional Finance
The use of credit and debit cards for Internet transactions is fraught with problems. These instruments were never designed to be used for Internet transactions and the way that they are treated is inherently unsecured – as demonstrated by the continual hacking of card numbers and personal details.
Casares also advised that the biggest mistake any consumer would make today is to ignore Bitcoin. He advises transferring 1% of one’s net wealth into Bitcoin and simply forgetting about it for the next decade – the payoff would be enormous if his prediction of the $1m mark is anywhere near the reality in 10 years time.
But even those who see his predictions as at the very edge of possibility have to admit that pundits have been right in the past about how Bitcoin has been going from strength to strength. At the end of 2016, a Danish bank issued a prediction that Bitcoin would hit $2,000 in 2017. It was then trading at around $750 per coin. It reached the $2,000 mark in May 2017 and has shown no sign of slowing its meteoric growth in value since then.
Bitcoin is Immune to Inflation
But Bitcoin will also see value due to the nature of its distributed network and the fact that it is basically immune to interference from government and the banking system. Because of this, it is also immune to inflation. With the limit of 21 million Bitcoins being reached in what some analysts expect in 2140 that’s it – there will be no more Bitcoins issued. With scarcity comes increased demand for a limited resource – and even in the coming decade this limit seems far into the future there are those consumers who look upon Bitcoin as a multi-generational investment.
The Market is Opening its Doors
With this sort of bullish sentiment driving value, as well as the increased acceptance by merchants there is very little doubt that Bitcoin is set for a stellar future. If one takes into account the increasing amount of retail business that is now taking place on the Internet the future for the cryptocurrency looks even better. Consumers might be strongly advised to carefully consider their purchase of at least small amounts of Bitcoin – the rewards are simply too great to be out of the market completely. A decade is no time at all to see the maturation of a long-term investment – Bitcoin might be the best there is. Btc next Decade ….. We think it’s going up up up.