As at writing this article, the present bitcoin value is at $2294.55
This article represents my personal opinion only and should not be considered as investment advice.
Bitcoin has grown into what is now the hottest investment commodity of all time. Several underlying factors suggest that the bitcoin will only continue to gain value in the future. Take for instance, if you’re familiar with Bitcoin, you probably already know that the supply of all available bitcoins is limited to 21 million. While the national governments have a tendency to print new money whenever they feel like, the supply of new bitcoins that enters the market is ultimately limited.
What do I mean?
Well, once exactly 21 million bitcoins are created, no more new bitcoins will be issued, ever. The supply of new bitcoins entering the market gets slower as Bitcoin mining becomes more and more difficult.
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No one for sure can pinpoint what the value of Bitcoin would be in the next 3 years. However, analysing the present trends (if the present trends are anything to go by) I think the Bitcoin value would reach over $5000.
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Factors that would make this Bitcoin Value Possible
- If all banks all over the world looked into this technology.
- China currently has currency restrictions and monies are being shipped out of the country through bitcoin.
- New cryptocurrencies will be created and will rise exponentially – some will be absolute rubbish while others will be worthwhile, but Bitcoin will be used to purchase them.
- The influx of online schemes that makes use of bitcoin – hey, let’s be honest.
- The number of bitcoins awarded for solving a block is cut roughly in half after 210,000 blocks or approximately every four years. In 2016, just last year, miners were left with a reward of 12.5 bitcoins, in 2021, this amount will be cut in half again, and thus bitcoin miners will only be rewarded 6.25 bitcoins.
Even if bitcoin doesn’t hit the $5,000 mark, it would continue to gain ground, feel free to let me know in the comments section of your predictions of the bitcoin value in the near future.
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