The last few months of the current year 2021 or rather the entire year 2021 seems to have taught a very specific lesson to the world: NOTHING IS STABLE!
This includes your employment, bank account, lifestyle, or for that matter anything. Then why blame cryptocurrencies alone for being volatile???
In fact, Bitcoin has stood the test of time as a savior for the whole world rewriting the definition of speed, transparency, and reliability. Thanks to the revolution called: Blockchain.
Bitcoin Overview
| Cryptocurrency | Bitcoin |
| Ticker Symbol | BTC |
| Price | $ 47,237.00 |
| Price Change 24h | -1.50% |
| Price Change 7d | 9.56% |
| Market cap | $ 892,256,099,581 |
| Circulating Supply | 18,900,787 BTC |
| Trading Volume | $ 33,400,461,218 |
| All time high | $68,789.63 |
| All time low | $65.53 |
| BTC ROI | 37990.48% |
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Bitcoin: The Promise of Dawn
Competing and bracing in the tough markets, Bitcoin is a cryptocurrency that has elevated its own stature being called a digital gold or virtual asset with no constraints of logistics or state borders. It is one cryptocurrency that refuses to bow down to central government pressures or be chained in defective and regulatory monetary shackles. Pandemic has brought to its fore a technological revolution that has shown a beacon to investors in the form of Bitcoin and guess what? All with just an internet connection and a smartphone!
Bitcoin has made it possible for everyone to store and transfer value in a currency that is resistant to manipulation. Due to Bitcoin (BTC), we can see the opportunity to take the power out of the financial institutions and provide a better service. Bitcoin operates universally, i.e., for the first time, there is a possibility of a global currency.
History of Bitcoin
The origins of Bitcoin can be found in the year 2009 when a pseudonymous person Satoshi Nakamoto emerged in the news. His epic idea of creating a currency that would run on the blockchain and ensure maximum transparency and security at the same time simultaneously being scientific was considered highly “INCREDIBLE” and brought a lot of turbulence in the initial phase of price offer! It would not be less than a mystery of how Bitcoin scaled a count of $30,000! It is unbelievable how the numbers are still rising according to the BTC price prediction. We expect much more price target for the Bitcoin price predictions by the end of 2021.
Mining is the process through which Bitcoins are released in circulation and by which transaction records in the system are added and verified. Various computer chips are used for mining like Application-Specific Integrated Circuits (ASIC) and more advanced processing units like Graphic Processing Units (GPUs) known as “mining rigs.”
Bitcoins can be accepted as a means of payment for services/products provided. If you have a physical store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the hardware terminals through QR codes and apps. An online business can easily accept Bitcoins by just adding this payment option to the others it offers: credit cards, PayPal, etc.
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Bitcoin vs Fiat Currencies
Dedicated Bitcoin activists still advocate using Bitcoin in place of fiat money. However, there are many Bitcoin supporters who believe that digital currency is the future and consider it as a store of value just like gold and many more. Basically, Bitcoin as a store of value means people can HODL it for the long term and treat it as digital gold. The factors leading to Bitcoin’s adoption by institutions and companies primarily are based on the following fundamentals:
- Faster Payment process as the cost of the transaction is kept low to enable investors to transact using the credit card
- Low/minimum payment fee and no hidden or hefty charges; neither by brokers nor by banks
- Not dependent on any payments from the bank or its network
- Accessibility: No approval required from any third party
- Alternate to physical commodity
- Easy to store and secure offering maximum reliability without going through the trouble of carrying bulky bags
- Power in the hands of User and investors eliminating the role of intermediary
- Confidentiality of Investor and transaction preserved with utmost discretion as no KYC revealed and payments are not linked to traditional verifications
- Acceptance of payments from any source or origin
- Enabling payments and transfers through the press of a button on the users’ cell phones
- Most importantly, they are Fraud-proof as they are stored in a public ledger and all coin owners are encrypted to ensure the legitimacy of record keeping.
- Dan Schatt, CEO of the crypto lending platform Cred believes, “Whilst the current global liquidity crisis has the potential to destroy some asset classes, in the short-term bitcoin and cryptocurrencies will prevail. Bitcoin could have a massive run if more investment funds are permitted to invest in the form of ETFs and other financial vehicles. The floodgates will open when the regulatory environment becomes more funds and endowments.”
Can Bitcoin Price Ever Reach $1 Million?
Bitcoin, a sheer pioneer by performance has been growing in leaps and bounds. The price of Bitcoin has already risen enormously in the last 12 months and recently, set a new all-time high of $68,789.63.
From time to time, the crypto experts, analysts, or influencers like Mike Novogratz, John McAfee, Tom Lee, Anthony Pompliano, Roger Ver, American venture capitalist Tim Draper predict the long-term potential of the Bitcoin market within the next few years. According to some analysts’ Bitcoin price predictions, the coin will reach a new high above $1 Million soon. The price of Bitcoin has been steadily moving up after the pandemic. In spite of the escalation in its value, analysts are cautiously looking at the cryptocurrency’s outlook. The Bitcoin Fear & Greed Index is also flashing “Fear,” which usually means a correction is due.
The good news is that this correction shall abate after the year-end as soon as the value touches the $60000 level again. Nostalgia seeps into the trends, whenever the price of bitcoin is marked a sudden increase as per the Bitcoin forecast, history repeats as it is followed by a Bitcoin price correction of 20 to 30%. The world’s largest cryptocurrency, Bitcoin, has more than doubled its price this year. A wild rally that’s reminiscent of its tremendous price surge in 2021 that saw it narrow in on the $60k mark.
Governments worldwide are taking measures to restore the economies and it is set to have an influential impact on Bitcoin too. This should make BTC an active and safe haven for investors and industry experts.
Twists & Turns in Bitcoin Saga
Bitcoin price has had a historic voyage throughout and that could be the main reason for its popularity too. The historic voyage actually began way back in 2013 when it actually showed prominent signs on the crypto exchanges. BTC began trading at $13.50.
After a brief rally, the price of Bitcoin had reached a peak of well above $220 in early April, before correcting down around $70 by mid-April. Bitcoin prices began to trade upwards in October and November of 2013. To everyone’s surprise and among all hopes, BTC price traded around $100 at the beginning of October and reached a high of $195 by the end of the month.
In the next month, the currency went from around $200 to over $1,075 by the end of November. This tremendous price movement was caused by new exchanges and miners in China entering the crypto marketplace.
As known to all cryptocurrency sentiments, the price for Bitcoin too began to get volatile after scaling these peaks. It came to a point that people were facing withdrawal issues from the exchange. The BTC price reached a high of $1,079 at the beginning of December 2013. Later, the BTC price fell and reached around $760 by the end of the first week with a drop of 29%. This showed a real loss of faith and downward spiraling of a trend.
Even though there was stability achieved in trading to some degree to around $920 in January 2014, an enormous crash shook the entire community in early February, Bitcoin price was trading around $850 in the first week of February, but it fell and reached around $580 by the next week with a massive fall of 32%. This was the historic time when price continued to fall and it seemed there would be no hope of betterment for this currency. Middle of July 2014 the currency traded at $600 and eroded to around $315 at the beginning of 2015.
The summer of the year 2015 brought some relief with the price gradually stabilizing and early November 2015 saw stability in terms of price to some extent during mid-2015. However, early November saw another massive spike. Certain specific exchanges posted around $275 on October 23 to a brief close of about $460 on November 4. Bitcoin continued to be traded at around $360 at the end of November 2015 breaking the $1000 mark in early 2017 after registering a halving in July 2016.
There has been almost no looking back as crossing the $1000 mark was an Epic in the history of Bitcoin with investor confidence slowly restoring and pulling in new investors. October 2017 saw the price reaching $5000 and November witnessed a doubling to $10,000. The Bubble talk began around this time when on December 17, the price of Bitcoin scaled $19,783.
However, it was too short-timed and the rise was not sustained. Bitcoin crashed rapidly to below $7,000 by April 2018 and below $3,500 by November 2018. A Renaissance phase is observed by many experts for Bitcoin prices starting the year 2019. This resurgence was seen both in price as well as the volume when it broke all bounds, bursting to around $10,000 by June 2019. Once again the tremors of Bitcoin were felt, sinking the price to around $7,000 by the end of the year 2019.
Bitcoin: Slow & Steady or Fast & Ready
The Pandemic, which was a curse for fiat, proved a blessing for Bitcoin (BTC) from 2020. Bitcoin started luring investors mainly due to so many price rises and falls witnessed abruptly after having a halving in May 2020. With pandemic leaving no hopes of financial development and recession lurking in the corner, massive job losses being reported worldwide, surprisingly the Hope Index of investors gave a significant bullish nudge to Bitcoin, and ownership of the currency rose enormously. It started being viewed as a coveted digital asset and this was the time when it was even compared with Gold.
Many Countries like Venezuela, Malta, etc. started including cryptocurrencies in their monetary system and UNO even documented the movement of this crypto trend in their White Paper keeping in perspective the DeFi sector advantages.
Recently, El Salvador became the first country to use Bitcoin as a Legal Tender along with the US Dollar. Even El Salvador president Nayib Bukele announced plans to build a Bitcoin city in eastern El Salvador.
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Bitcoin Price Predictions: 2021 to 2026
Realizing and appreciating the value of this digital gold alias Bitcoin (BTC), it has been recommended for long term beneficial investment by experts and institutional investors. Global government monetary stimulus packages and near-zero interest rates are further contributing to the deterioration of the scarcity of fiat currencies. Bitcoin price in the next five years is predicted here.
The long-term price upward trend has been predicted purely on the merits of Bitcoin viz. Security and Reliability. A further influence on prices for BTC cryptocurrency can be seen based on the inflow of funds by institutional investors in the long term. In light of the Pandemic and uncertainty prevailing around it, the cash segment has taken a major hit, taking the deficit of nations to a phenomenal level even for developed countries like the United States.
According to Bill Miller, Mutual Fund Legend and Chief investment officer of Miller Value Partners, “Bitcoin’s supply is growing around 2.5 percent a year and the demand is growing faster than that”. After Bitcoin halving in 2020, the supply issuance of new BTC is cut by 50% and the current block reward is 6.25 BTC / block. This reduced supply issuance caused the price of Bitcoin to skyrocket above a $1 trillion market cap. Based on our Bitcoin price prediction, BTC would register dramatic price changes due to increased demand in the market.
Analysis from Bloomberg Intelligence sets Bitcoin forecast for the year 2025 at $100,000 as most measures of demand and adoption support an upward trajectory for Bitcoin BTC cryptocurrency.
Bitcoin Price Prediction 2021
According to Bitcoin price prediction data based on the stock to flow model of Plan B, it is likely to cross $98K by the November end. But the BTC stock to flow model missed this time. However, the S2F model is not affected and is indeed on track towards $100, 000.
$98K❌
Floor model first miss (after nailing Aug,Sep,Oct). No model is perfect, but this is a big miss and the first in 10y! Outlier/black swan? I will give Floor model 1 more month.
S2F model unaffected and on track to $100K.
Watch out for trolls confusing Floor and S2F model! https://t.co/tj6SSwSzKR
— PlanB (@100trillionUSD) December 1, 2021
Due to bear market scenarios, Bitcoin’s value was trading in the range of $48,000-$60,000 with the minimum & maximum BTC price respectively in the year 2021. As per the Bitcoin price chart, the technical indicators of the king of cryptocurrency also reflect the possibility of enormous recovery. Moreover, the Bitcoin price is consolidating over the past few days and it needs to hit $60k to move higher.
Based on the current sideways trading, it seems that the value of BTC cryptocurrency might prepare for a bullish rally in the near term as per our cryptocurrency price predictions. On the upside, the BTC value might cross its previous ATH of $68.7k and hit the maximum price level of $70k by the end of 2021. And if the BTC cryptocurrency continues to record downside movement, it might correct upto its support of $50k as per our short-term price predictions.
Bitcoin Price Prediction 2022
Always in mind there arises a question: What will be the price of Bitcoin in 2022? Bitcoin forecast for the year 2022 is predicted around $100, 000, given all other factors being stable. Based on our BTC prediction, the coin might get massive adoption due to FOMO. Bitcoin might continue to record price increase above $100, 000. The recent technological upgrade known as Taproot will pave the way for enormous growth in terms of privacy, reduction in fees, smart contracts and lightning network.
Bitcoin Price Prediction 2023
As per our Bitcoin price prediction 2023, Bitcoin would cross the bar of $1,10,000; and hold the market with a steady position. The lowest Bitcoin price will be around $100, 000 and the highest Bitcoin expected growth price will be above $125,000 in the year 2023.
Bitcoin Price Prediction 2024
BTC would start the year 2024 with an average price of $130,500; Bitcoin can trade around the price of $100,000 by the end of 2024. Bitcoin could trade with a min. price of $125,000 and a max. of $145,000 in 2024.
Bitcoin Price Prediction 2025
Bitcoin prediction 2025 seems to be the year of the bull with Bitcoin at an all-time high of $250 ,000, to $400, 000. It could be the year of Bitcoin. It is very much likely that the Bitcoin 2025 prediction will double in price, but it is also possible that it may not hit the $400 000 level. This is merely for the reason that it is not supported by any specific regulatory authority or regime. Some could have made thousands of dollars in Bitcoin after an early $100 investment, but when the recent charts started to look a lot like a market bubble, many probably took their money and ran.
BTC Price Prediction 2026
BTC may register tremendous growth in 2026 as it holds long-term potential to reach new highs in terms of price point and market cap. It seems that the bull cycle will take the Bitcoin price above $400, 000. Based on the current trends and Bitcoin price predictions, the institutional investors and businesses might adopt BTCs tremendously. Moreover, technological advancements might also expand the use cases of BTC. These factors will play a vital role in significant growth of Bitcoin. As per the data of experts’ price predictions, Bitcoin would hit the maximum price level of $500,000 and the minimum price will be around $450, 000.
Bitcoin: Light at the End of Tunnel or Lighted Tunnel
World economists are finally realizing that current financial systems are flawed and unstable. The world needs much more stable and reliable currencies like Bitcoin. Bitcoin has gradually pervaded mainstream consciousness and gained traction. It has stood the test of time and shall continue to do so provided it sees a mass adoption. More importantly, it promotes a culture of Equal Opportunity without any discrimination or unemployment threats.
In the unlikely event of a significant change for the worse, the bitcoin price should continue to appreciate. The Untold period of central-bank easing is accelerating the maturation of the first-born crypto toward a digital version of gold while accentuating oversupply constraints in most of the market.
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FAQs
Is Bitcoin a bubble?
No, People do have this misconception as Bitcoin is prone to volatility. It is the same case though with Fiat currencies as well. However, Bitcoin has stood the test of time. As the value of this digital asset has surprisingly been fair and consistent over the last 5 years, people fear the cycle may change for bad. There is an equilibrium of supply and demand and Bitcoin has proved to be stable.
Is Bitcoin safe?
Yes, Based on a mathematical and scientific blockchain algorithm, it is highly unlikely that Bitcoin gets hacked. As owners of Bitcoin, you are anyway Masters of your own wallet and hence safekeeping thereof falls in your periphery of accountability.
Why do people trust Bitcoin?
Because Bitcoin is the most transparent, scientific, and decentralized digital asset. No wonder its advantages override its limitations.
What will Bitcoins be worth in 2025?
BTC will be worth around $400,000 in the year 2025, according to our Bitcoin price predictions.
What will be the price of Bitcoin in 2030?
Bitcoin might touch $520, 000 by the year 2030.
Can Bitcoin reach 100K?
Yes, according to our Bitcoin prediction, Bitcoin will reach $100,000 by the end of 2024.
Can Bitcoin really hit a million?
Yes, according to the industry experts, the expectation is bitcoin will touch 1 million in the near future.
Can Bitcoin ever crash or die?
No, Bitcoin is a decentralized digital asset that is completely reliant upon market demand. Even in the global pandemic of 2020, Bitcoin showed tremendous growth and gave a signal of new rise.
Can Bitcoin hit 500K?
What can be the future of Bitcoin? Yes, Bitcoin might hit $500,000 in the year 2026, according to bitcoin predictions.
Who owns the most Bitcoin?
Satoshi Nakamoto, the founder of Bitcoin is having approx 1 million Bitcoins according to rumors.
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