Bitcoin remains the most talked-about subject in the global financial industry. Even though many believed that its value will plunge after it breaks the 2017 record, which was a little bit over $19,000, it managed to remain stable. Not only that, but its value kept going up and it currently sits at around $40,000.
Halfway through 2021, experts believe that this cryptocurrency has the potential to rise as high as $100,000 by the end of the year. Not only that, but they state that it will continue to rise in the upcoming years. Early predictions state that it will reach more than $500,000 by 2030, and pass the $1 million mark in 2037.
That is the topic that we wanted to touch on in this article. We’ll be taking a look at why will Bitcoin keep rising, but first, let’s check out how people actually make money with it.
How People Make A Profit With Bitcoin?
After users earn Bitcoin via mining or buying it, they turn to trade sites to connect with buyers from all over the world. Yes, the option of selling them via Bitcoin ATMs is still there, but these ATMs are inferior to trading sites, which is why they are not used too often these days.
Once you register and verify your identity, trading sites will also give you access to their AI system which analyzes the market and makes accurate predictions on the near-future price of this cryptocurrency. Hence, you will gain intel on when is the best time to sell your digital assets and generate the highest amount of profit.
One of the most reputable trading sites that have perfected this service is the Bitcoin Equaliser app. This platform has thousands of registered traders from every part of the planet. The platform is very secure and you can use its services from any desktop or mobile device.
Now, let’s see why will Bitcoin keep rising in the future.
Demand Will Increase While Supply Will Decrease
First of all, the main factor that influences the price of a product or a service is the supply and demand. It is no wonder that the demand for Bitcoin is much higher than the supply. Not only that, but Bitcoin’s supply is finite as it is limited to 21 million units.
With time, the number of Bitcoins available will be smaller, which means that the supply will decrease. But, since this is a valuable asset, the supply will either stay the same or increase. All products that have a higher demand than supply are much valuable, hence the price of Bitcoin will increase.
Bitcoin is Becoming More Stable
Cryptocurrencies come with a high volatility rate and they are not very stable. While Bitcoin is a highly volatile asset, it is extremely stable. Why? Because many people are using it and the trend will continue in the future. Not only that, but recently, we had groundbreaking news as El Salvador became the first country to legalize Bitcoin. Governments’ interest is a massive step forward as it increases the acceptance rate and stability.
More Companies Are Investing In Bitcoin
Bitcoin has quite a few massive advantages as a payment method. That is why many companies, including global brands such as Expedia, Microsoft, Overstock, Shopify, and Whole Foods are accepting payments with it.
This trend has been on the rise lately, especially after Tesla, one of the world’s biggest car manufacturers, invested over $1.5 billion in Bitcoin. More and more companies will accept Bitcoin in the future, which will make Bitcoin more stable, and ultimately more valuable.
It is worth noting that these predictions are not 100% accurate, it is just data collected based on research.
Follow Technoroll for more!
Editorial Staff of the TechnoRoll, are a bunch of Tech Writers, who are writing on the trending topics related to technology news and gadgets reviews.