5 Bitcoin Trends You Should Know About

Satoshi Nakamoto’s great invention, Bitcoin has completely changed the world’s economy over the years. Many people have invested in it with many trading software being developed indicating a growth in the currency. Here are 5 Bitcoin trends that you should be aware of as an investor:

  1.    Bitcoin’s Price Will Go Beyond The $100,000 Mark By June 2018

The original prediction of Bitcoin’s value was that it would have hit the $14,000 mark by June 2018 but recent developments from optimists predict that bitcoin will surpass the $100,000 over the next half of the year.

Analysts argue that the market capitalization on BTC should at least be 1 trillion US dollars for it to get to $60,000 per coin. Currently, the whole market cap stands at $388 billion. Bearing in mind that it was at $170 billion 8 months back, and had even hit $800 billion in January of 2018, this prediction could actually be realistic.

  1.    Using Bitcoin As A Way To Transact Will Give Way To Using It To Store Value

The current trend of Bitcoin is that there is a high likelihood of it shifting from being a transaction currency to being a medium of storing value. Most investors have been using Bitcoin as fuel for their investments owing to its high price increase. More to that the security features in Bitcoin make it more likely to be used as a value powerhouse.

Bitcoin has scalability issues which have resulted in the increase in transaction costs. It is more likely than to shift from being a means of transacting to a means of storing value.

  1.    The Rising Futures Market Will Change Everything For Bitcoin

CME’s announcement of developing a futures contract for Bitcoin by mid-December has led people to think about the implications this would have. On the bright side, futures drive the trade of Bitcoin, allowing more investors to access it. This will increase Bitcoin adoption rate.

The trading futures’ cost is quite low, but the increase in adoption and the undeveloped technology has dramatically increased Bitcoin’s transaction rates. Futures are a great determinant of price discovery and can be of great help to Bitcoin getting price stability.

  1.    Bitcoin Is Being Viewed As A Bubble That May Burst Anytime

There are many concerns that Bitcoin is a bubble. First off, its underlying technology is outdated compared to that of other cryptocurrencies. Unless development is done on it, it won’t hold on to the top position for long. Additionally, Metcalfe’s law on the size of networks won’t be applicable if Bitcoin is to be a medium of storing value, regardless of the number of people who adopt it.

While cryptocurrencies are decentralized, governments can regulate their usage indirectly. A good example is when China banned crypto exchanges in the country and Bitcoin’s price fell. If the American government is to make regulations on the currency, then Bitcoin would be drastically affected.

  1.    There Is A Call For Transparency In Bitcoin Management

Mt. Gox, one of the largest Bitcoin exchanges within the market collapsed in 2014, ending up bankrupt, leaving many with losses. This called for audits of major Bitcoin exchanges with transparency becoming a major concern among many crypto investors. Many people remain willing to adopt Bitcoin if transparency is adopted and upheld.

Conclusion

Those are the current Bitcoin trends. Want to make huge profits from Bitcoin? Well, there is an award-winning cryptocurrency trading software called Bitcoin Loophole. Check it out today.