Bitcoin underwent the most substantial price change at the end of 2017 when its price eclipsed $20,000. Back then, it provoked a lot of speculations as to how Bitcoin is going to behave next and what awaits the digital currency in the forthcoming years.
Two years later, Bitcoin again presents a strong potential signal. Investors heat up in anticipation that Bitcoin’s price will start a crazy price rally in the foreseeable future. While there’s no way to determine precisely when this is going to occur, some of the projections designate that Bitcoin can easily jump to the $50,000 price level.
Ups and Downs of Bitcoin
There’s a lot of skepticism about it, of course. While Bitcoin may show an outstanding price potential, it does not give it an immediate right to be qualified as a payment means or to be accepted in any country of the world. Some deem Bitcoin as a purely speculative tool, this is why people like Jim Rogers think in the long term BTC price is going to tank to zero.
Such predictions seem overly pessimistic, as the history of Bitcoin shows that it tends to recover even from the lowest dips and then soar even higher. This has already been witnessed in 2020 – starting the year at an optimistic level of $7,000 and quickly progressing to $10K, BTC then went to lower grounds of $4,474 during the market turmoil in March dubbed ‘Black Thursday’, and still thriving around $9,273 at press time.
The Bubble That Never Bursts
That’s a peculiar thing about Bitcoin. Despite all of its objections by the detractors, it still makes firm steps in the system and achieves higher ground contrary to all negative prognostications. All talks about the erupting bubble have not come into reality yet, and on the opposite, Bitcoin proves stronger than before and continuously gains solid spot. With a rising number of new adopters, this cryptocurrency is an asset many investors relate to high hopes with.
While Bitcoin may not necessarily take a leadership role in fintech transformation of the future, it will nevertheless remain an attractive investment vehicle as long as people believe in the future of decentralized money.
Being the largest cryptocurrency and the pioneer in the field, Bitcoin was the first to draw the decentralized approach into the mainstream and in this day and age remains the most popular choice among newbies. As public education about cryptocurrency keeps growing, it is quite possible that the excitement around Bitcoin will not fade out anytime soon.