Why will Bitcoin’s price keep rising in upcoming years?
After Bitcoin was created back in 2008 and managed to breach the market, most of the people that used it traded on the black market. At the time, nobody was familiar with how it operates and whether users are secure. After it was confirmed that Bitcoin has tons of advantages over regular payment methods and it is very secure, its network started rising at a very fast pace.
As of 2021, the network of this cryptocurrency counts over 5 million users, with thousands more joining with each passing day. Not only that, but Bitcoin is as valuable as gold as its price tag is currently sitting at around $40,000. Back in April 2021, it even peaked at over $63,000.
Since Bitcoin is a cryptocurrency that comes with a very high volatility rate, its price is subject to frequent changes. With that being said, we wanted to take a look at the future of Bitcoin and see whether it will continue to rise or fall. But first, let’s see where can you trade with this cryptocurrency.
Where do people trade Bitcoin?
The process of trading starts with earning it. The best way to earn Bitcoin is to mine it. This is a very complex process that requires a lot of time, patience, and a powerful device that can withstand the process. The beauty in mining is that it helps to stabilize the network and it is free. Mining is basically recording and verifying Bitcoin transactions that are integrated with its blockchain.
But, since not many are able to do it, they just buy it at the same platform where Bitcoin is sold – trading sites. Trading sites such as bitcoin-profit.org allow traders to buy and sell Bitcoins at any time and place. They are operating 24/7 and to gain access to their services, you just need to register.
This is a very fast and simple process in which you fill out an online application form then follow the site’s instructions to verify your profile.
Why Bitcoin will keep rising
All experts have shared the same thought – its price will keep going up. The reason for that is that Bitcoin is finite. When the currency hit the market, it was stated that there are a total of 21 million units. They are released into the network by mining them.
The latest projections state that 99% of all Bitcoins will be mined by 2032. That means that the supply will become even rarer, while the demand will remain the same, if not rise. Thanks to the supply/demand curve, Bitcoin will rise in value. Here’s how that curve works. If the supply is bigger than the demand, then the price of the product is low.
But, if the demand is higher than the supply, then the price will go up, and that is the case with Bitcoin.
The projected prices
The first projected price for Bitcoin concerns the end of 2021. Many analysts are confident that Bitcoin will reach a six-figure number for the first time in its history in the fourth quarter of 2021. As for the more distant future, Bitcoin’s value will go over $100,000 in 2022, reach $300,000 by 2025, go to $500,000 by 2030, and 2037 will be the year when it will reach $1 million.
As time will pass by, its value will keep increasing. Just a reminder, analytics show that 99% of all Bitcoins will be mined by 2032 and that is when the drastic rises will occur. Finally, 2140 is the year when all Bitcoins will be released into the network.
