Today, we can rightfully say that everything is about cryptocurrency and Bitcoin, and it doesn’t matter if it’s about its latest price growth or what to expect from BTC in 2021, one thing is for sure, not a day can go by and not hear some news about it. With all that is going on in the world, some still look at cryptos like a bubble that’s going to burst any second, which is not true, and if the last decade taught us anything is that the cryptocurrencies are the money of the future, and although cryptos will still come through many changes and challenges until they get their worldwide acceptance, it is clear that there is no better and more perfect monetary solution. But even though that’s the case, many people are yet to understand how blockchain works, what cryptos represent, and since it is a relatively new niche and there is noise about cryptocurrencies, there aren’t that many truly informative articles, and this is especially true when it comes to the predictions about Bitcoins future value growth. Finding a reliable source to get informed on how or will its price rise or not is difficult, but that is not solely because this area is new it’s because not many people can predict how everything will dissolve.
What we can all witness in the past couple of weeks is that Bitcoin has set some new highs, and even after the correction, its price continued to rise, and the drop was only temporary. That is why today, despite many bans by a large number of countries, some forecasts are that in the next 5 to 10 years, the value of BTC will only grow, with regular corrections – of course. But what affects the price, how to know whether or how much will it be worth in future. These are just some of the questions that trouble today’s people, current and future investors, which is why we will now further discuss this topic.
Opposite to those experts who believe that cryptos are a scam, there are experts that are certain the price will reach 1 million by the end of this year, and to say the least, both sides are wrong, and the truth is somewhere in the middle. There are many factors that can have a great effect on its value, and one of that factors is surely security. Even though our personal data, transactions, and everything else, is as protected as it possibly could be, there are still chances for potential cyber-attacks. We all know that hackers managed to steal not only data but BTC as well in the past, and, of course, all that affects the price.
Security is not the only thing with a great impact on future Bitcoin predictions, and since it is so volatile, there are three different analyses that can help with predicting its price more accurately:
The last one is the most popular one for sure, and this type of analysis focuses on the things and circumstances when BTC rose or fall in the past, and by doing so and predicting potential future events, it predicts its price. As you can clearly see, it is not the most accurate way to determine the exact value, but it is for sure the best way to show what is going on in the market. We all understand the basic economics, and when there is a high demand, the price of that product, or in this case BTC, can only rise, which is also another significant sign that all investors should look for when trading.
Finding the right time to invest in Bitcoin can be challenging, especially when you don’t know whether it will continue to rise or fall. The latest example is when the famous correction occurred, and the price dropped, and even though this was announced, many people start selling BTC because they thought it would continue to drop.
Many believed that since there was a lot going on in the world last year, that it would also affect Bitcoin, and at the beginning for those uninformed, it sure looked that way, but as the year came to an end, the predictions that it will set new price high came through. To answer the question of why everything that happened didn’t have any effect on the cryptocurrency market, it is because the whole cryptosystem is about decentralization from the governments, countries, and it is an independent and self-sustained system. Blockchain has the biggest role in this, and because of Blockchain, cryptocurrencies are even possible. Yes, the price changes of BTC are still much greater than all other types of currencies or other cryptos, but, as mentioned above, the biggest reason for that is the amount of supply and demand.
A good indicator for all investors out there is that some of the world’s largest companies are starting to invest large sums in cryptocurrency, and it is perhaps the first step to overall acceptance, which will, when it happens, have an immeasurable effect on its price. The other significant sign that things are changing in favor of cryptocurrencies is that some countries, the USA, among all others, announced a new set of laws and regulations that will further regulate cryptos. Now, with knowing all that, it is impossible to predict what will happen, what actions will countries take, and the exact price of BTC is yet to be determined, but everyone can be sure of one thing, as more people start trusting and investing in digital money, the value of the whole market, and not just Bitcoin would only grow.
All this is an even more reason to get informed, find the most reliable sources, and consult the best experts in this field before any action, but luckily, even exchange platforms offer various advice on this topic. Of course, finding the best and most trustworthy trading website or app is yet another challenge, and since there are so many of them, it could be difficult, but those verified sites like bitcoinprimeapp.com are always the right choice as they will not only offer the best solutions, they will also offer trading guidance and all the necessary info.