The emergence of Bitcoin in the past few years has brought significant developments to the financial industry. Because of its distinct characteristics, Bitcoin can be used for a variety of purposes. Despite the increasing number of merchants who accept this cryptocurrency in the market, there are still many things to be done for it to become part of the mainstream financial system.
However, nobody can really forecast the future of Bitcoin in the financial community. With cryptocurrency’s volatility, the price can probably go up or down very quickly. This can make price predictions more challenging than you expect. Fortunately, with a little research, you can see some price predictions from some of the famous industry experts around the world.
Continue reading this article to learn some of the best Bitcoin trends that are coming in the future.
Bitcoin Price To Reach $250,000 Per Token In The Coming Years – Tim Draper
The American Venture Capitalist Tim Draper foresees that the price value of Bitcoin will go up to $250,000 per BTC token in the years to come. The figures you see in the price means that the cryptocurrency will have an approximately 5% market share of the entire currency market. In other words, Bitcoin will be more accessible and available for real-world usage such as trading using Software, sending money abroad, buying stuff, and many more.
Bitcoin’s Market Capitalization To Reach $15 Trillion By 2020 – John McAfee
The founder and creator of the anti-virus McAfee software, John McAfee, predicts that the price of Bitcoin will increase by up to $1 million by 2020. If this price prediction holds true in 2020, the market capitalization of Bitcoin will become $15 trillion.
For instance, the market capitalization can be determined by multiplying the total number of coins in circulation with its current market price. So, if 20 million Bitcoins are circulating in the crypto space and its current price is $20, then $100 million is the market capitalization of Bitcoin, which is also its total value. When this happens, Bitcoin will undeniably become a valuable asset that you should have.
Bitcoin Price To Value At $91,000 By 2020 – Tom Lee
The analyst from the cryptocurrency research organization Fundstrat, Tom Lee, predicts that the price value of Bitcoin in 2020 will rise to $91,000. This prediction is based on a chart analysis where Lee has considered the price movements of the coin. Since the cryptocurrency’s price is heading an upward trend, the historical data provided by the chart can tell that Bitcoin will continue to bloom in the next few years.
Bitcoin Price To Increase at $200,000 By 2020 – Fran Strajnar
CEO of Brave New Coin, Fran Strajnar, predicts that the Bitcoin price will increase to $200,000 in the year 2020. That’s because of the increasing adoption rates that the cryptocurrency enjoys from the public. With more people who purchase and use Bitcoin, its price will also appreciate, making it a more accepted digital currency in the market.
Bitcoin Developments In The Coming Years
In addition to its price value, Bitcoin continues to enjoy some developments in the real world. Because of blockchain technology, it has gained so much popularity in areas such as trade and commerce, financial services, and investments. Below are the areas in which Bitcoin is expected to move to a better direction:
- Bitcoin will become an excellent solution for people who are unable to use fiat currencies or those who don’t have trust in central banks, and those who are living in countries with an unstable currency or deteriorating economy.
- Bitcoin will have the same features, similar to banking services. More Bitcoin ATMs will be available to accommodate easy and quick withdrawal process. Also, a Bitcoin card will be issued as an alternative to the regular debit cards.
- Because of Bitcoin’s growing acceptance in the financial community, Central banks, as well as the government, will start to yield to its revolution and adoption, which is moving toward a digital currency system.
- Bitcoin’s blockchain will continue to undergo innovations to make the cryptocurrency a widely-used asset in the world such as the strengthening of the data privacy methods to protect digital information.
No doubt, Bitcoin has come a long way to bring a revolutionary development in the financial world. It has emerged as a popular digital currency used as an alternative to fiat currencies. But, despite its popularity today, there are still so many things to be done to achieve its full and widespread adoption.
Lastly, if you want to know whether Bitcoin can be an excellent financial investment, take a look at these Bitcoin trends to guide you in your decisions.
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Globitex Exchange Leads Charge in Trading by Lowering and Removing Fees
As part of its new strategy to become the most widely used cryptocurrency exchange, Globitex is lowering and removing fees for certain account features. Globitex aims to make it’s products more accessible for retail and corporate customers. The EURO Wallet continues to excel as the best solution for sending and receiving EUR payments from inside of an exchange. The EURO Wallet is powered by Nexpay UAB, an EU licensed financial institution and gives users full control of their assets.
“We implement changes quickly around feedback we gather from both retail and corporate customers. We never compromise on security, we abide by every regulation to ensure customers get the most of what is possible with cryptocurrencies today.” - Uldis Teraudkalns CEO of Globitex Exchange.
Private Individuals will enjoy the removal of the monthly account maintenance fee, this allows Globitex clients to open and maintain a EURO Wallet account without cost or liability until it is actually used for transactions.
Corporate customers will enjoy the reduced net cost on larger transactions, making the service more attractive for the largest corporate clients and traders. The combination of the service offering and pricing makes Globitex the No.1 cross crypto-fiat trading and financial operations platform. Globitex aims to add the functionality of using GBX tokens to pay for EURO Wallet fees with discounts, which will substantially increase the utility of the GBX token in the upcoming weeks.
Globitex encourages all traders, investors, and corporates potentially seeking to make payments from within and outside of the crypto space to use the exchange, confident it will be their permanent solution of choice. Users seeking to bridge the traditional finance sector with their cryptocurrency assets are urged to visit to Utilize their own IBAN account within a cryptocurrency exchange.
For more information or inquiries, please contact Globitex Support (email@example.com).
Tech Giants Opt for Ethereum: Why ETH is Still Behind BTC
Amazon Shows Support For Ethereum With a New Managed Blockchain ServiceAmazon has recently made shockwaves across the blockchain industry, when they announced their managed blockchain services in an exciting press release. They say the service will allow users to set up and manage their own decentralized blockchain network with just a few clicks. This is a huge claim considering the difficulty of achieving that task from scratch. The really good news for Ethereum is that the new service will soon have support for the Ethereum network due to some of its unique properties. On their website, they declare that “Ethereum is well suited for highly distributed blockchain networks where transparency of data for all members is important”. This is a huge deal for Ethereum.
Elon Musk Declares His Faith In Ethereum with One WordElon Musk has caused another stir on Twitter, this time in the blockchain world. He did it with a one-word tweet, “Ethereum”. The tweet has gained almost 10,000 retweets since then. That’s a big endorsement coming from one of the greatest tech visionaries of our time. Especially, as it comes when Ethereum has been struggling.
Many Other Companies Are Onboard With Ethereum TooThese are just the most recent additions to the list of big names declaring their support for the Ethereum vision. The Ethereum Enterprise Alliance is a group of big businesses committed to exploring and developing the decentralized technology that Ethereum is built on. The members include some massive names, such as Intel, Microsoft, JP Morgan, Accenture, and Deloitte. JP Morgan has even used the Ethereum technology to build its own blockchain networks for moving some of its enormous sums of money quickly around the globe.
So Why Isn’t Ethereum Number 1 Yet?All this should be enough to propel Ethereum into the stratosphere of development and adoption. But a quick look at the price and market cap numbers shows that Ethereum is even further behind Bitcoin than it was a few years ago. Ethereum has dropped massively since its peak price of over $1,000 and has never recovered to anywhere near those levels. So what’s going on?
The Same Old Scalability ProblemsEthereum has had one serious challenge for the last few years: scalability. Ethereum has never really managed to breach its transaction ceiling of around 26 transactions per second. That level is just not going to cut it out for a major global transaction network. Bitcoin has the same problem, but it has some exciting solutions already being used and tested. The Bitcoin Lightning Network is a “layer 2” solution that is used to scale Bitcoin transactions on top of the core Bitcoin network. Ethereum does have some potential solutions of its own. Ethereum Plasma promises to add a layer 2 solution to the Ethereum network to allow for much higher transaction volumes. However, right now, these projects are still far off proving they can take Ethereum to a global scale.
The Growing Threat of Competitor NetworksPerhaps the biggest reason why Ethereum hasn’t soared to the top spot on the crypto charts is the growing number of serious competitors to Ethereum. Until recently, Ethereum has been the only real choice for developers in need of a global decentralized network to build their applications on. The same with ICO platforms, too. This gave Ethereum the first mover advantage and helped it grow tremendously in its early stages. These days, however, Ethereum has plenty of plausible competitors. Using the Ethereum network isn’t a necessity for developers, it’s a choice. For example, while Amazon plans to support Ethereum for their managed blockchain solutions, it already supports Hyperledger Fabric. The growth of alternative networks and protocols such as EOS, Stellar, Cardano, Tron, Neo, and many more are hurting Ethereum. What’s more, many of these networks already offer much better performance than Ethereum in certain areas. For example, EOS is a protocol designed to build decentralized applications similar to Ethereum’s. But, with a completely different take on its consensus algorithm, it allows for a much higher transaction volume and speed than Ethereum. These competitor networks are now highlighting the weaknesses of Ethereum. They are putting pressure on the Ethereum development team and adding more uncertainty to the future of the Ethereum network.
Bitcoin is Seen DifferentlyBitcoin is facing many of the same technological problems, and even more competitors for its limited use cases. However, Bitcoin has kept growing because it is seen in a different way by buyers. These days, Bitcoin is seen more as ‘digital gold’, than the future central financial platform. Bitcoin buyers know that faster and better competitor networks may arise, but Bitcoin is still the original cryptocurrency. This is why Bitcoin buyers are happy to invest heavily in the cryptocurrency, even as real-world use cases and adoption remain fairly stagnant.
Ethereum Needs to Really CompeteEthereum doesn’t have the same advantages as Bitcoin. If it wants to cement its place as the number one decentralized network in the world, it needs to earn it. It needs to prove its value by developing technology that works in the real world, and applications that get used. Ethereum has got the support of tech giants like Amazon and influencers like Elon Musk. But, if ETH is ever to overtake BTC, it needs to use that support and take it to the next level as soon as possible.
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