Bitcoin has been around for over a decade, but by the end of 2017, the majority of people were aware of it. At that point, the cost of Bitcoin dropped from less than $1,000 for each Bitcoin to about $20,000 for each Bitcoin.
Then at that point the air pocket “burst”, basically as the experts said. Still, bitcoin has a huge future, given the uniqueness of its disruption, security, and decentralization, as well as the consistent evolution of this cryptocurrency that makes it a champion.
Bitcoin: current situation
At the moment, there are many interesting markers that make Bitcoin more and more interesting. First, you should consider the current news situation and specials.
We should start with the financial and political events that affect Bitcoin. From one point of view, it is fascinating to look at the legal situation in Russia. There is a draft decree that President Vladimir Putin has previously warned about. Similarly, the law gives the power to claim digital currency. In any case, there is no official confirmation of the installment. Bitcoin, on the other hand, offers an effective way to circumvent sanctions. A prime example of this is Iran.
Residents and organizations of this country have had the opportunity to make installments all over the world with the help of this digital currency. Another politically recognizable reason is the growing trading volume of the Venezuelan stock exchange. . For a very long time there have been areas of impossible levels of strength. The daily wages you receive can be part of it in just a few hours. So individuals seek protection in equal installment methods but without inflation (like Bitcoin).
What does it look like from the perspective of expert research?
Thanks to Bitcoin, the stock-to-flow (S2F) prediction model seems to be more and more confirmed as a predictor. Since then, Bitcoin’s cost has basically followed this model. With this model, costs reach $100,000 as early as the next year. With Bitcoin halving, if the model continues to be correct, Bitcoin will become the best storage with significant value in 2024.
As is evident, there are verifiable good reasons to believe that injecting resources into Bitcoin is justified. On the one hand, bitcoin is increasingly securing its status as an emergency currency, competing with gold, but on the other hand, bitcoin has valuable application areas. Since Bitcoin is deflationary, the cost will definitely rise. The December 2017 $20,000 mark may soon be a thing of the past, overshadowed by Bitcoin’s significantly higher cost. Therefore, it may be worth storing bitcoin. Use free bitcoins or buy exemplary bitcoins. Either way, given that the cost of Bitcoin has been going in one direction for over a decade and it’s going up, this probably won’t do the trick.
Anyway, it’s hard to predict if this will be a lucky or unlucky opportunity to buy Bitcoin. It’s currently rising sharply to around $11,500 before Bitcoin launches and the price falls. Or the price could stay at a very similar value and eventually explode suddenly. Unfortunately, this is something no one can predict exactly. So far, we’re just stating that Bitcoin’s cost is better in the long run. Then you can expect more.