The current interest of big organizations in Bitcoin has given birth to a high profit and rise in popularity for Bitcoin. When Elon musk’s Tesla revealed that it had brought $1.5 billion worth of Bitcoin, it sure made the headlines, and some eyebrows were raised. But what other effect were the rise in Bitcoin’s popularity and Bitcoins experienced an all-time high marketing capital of more than $800 billion?
If we listen to the experts, then it is said that the prices would go even higher, and Bitcoin will surely reach its status of digital gold. So, keep on reading if you need some insight on bitcoin.
Bitcoin prices
Bitcoins, after their introduction, have gained popularity and given high profits. Bitcoin prices are quite fluctuating and volatile and definitely there are more than one reasons. Some of them are scarcity of the Bitcoins. As such, there are only around 18 to 19 million Bitcoins in circulation, which means not much is left as there are only 21 million Bitcoins in the world.
Another reason is the adoption rate of Bitcoins. While people adopted the internet at around 63%, they are adopting Bitcoins and technologies-related Bitcoins at around 113% rate, so as you can see, the rate of adoption is quite high, which affects the price of Bitcoin.
Now let us see what experts have been saying about Bitcoin investments and regulation. When it comes to Bitcoin investment, the most asked question is whether or not to invest in Bitcoins, or is it too late to invest in Bitcoins, or is it a risky investment when investing in Bitcoins.
Is it risky or safe to invest in Bitcoins?
James Ledbetter, the editor in Fintech, Bitcoin is an extremely volatile, risky investment. If you take a close look at the Bitcoin investments, then you will know that there were days when Bitcoin spiked higher than mountains and then crashed low as sea level. This says a lot about the volatility of the cryptocurrency market. Another investor said that Bitcoins are like gambling. You should invest as much as you are ready to lose.
That can also be true in 2017. Bitcoin prices crashed three times in a single day, while in 2018, its price came down to $3,122, which made a lot of people lose their money. So, according to many other investors like Mark and Ledbetter, it is better to be always prepared for a market crash in the case of Bitcoins.
Can Bitcoins be traced?
The next most talked about topic is the safety of your digital wallet. Over time, a lot of exchange data has been either hacked or leaked. In both cases, a lot of people lost a lot of money. In a recent controversy, a lot of popular personalities like Barack Obama and Tesla CEO Elon Musk’s Twitter accounts were compromised, and a lot of Bitcoins have been transferred and lost to fraud or phishing. Although mostly everything about Bitcoins is anonymous, Bitcoin maintains a public ledger, according to Pompliano.
Since Bitcoin follows Blockchain technology, every cryptocurrency can be traced. Another point to note here would be that it is extremely hard and near impossible to hack Bitcoin.
Regulation and adoption by various countries
Another most talked about a topic about Bitcoins is the regulation and adoption of cryptocurrencies such as Bitcoins by government agencies. There are approximately 55 countries that have adopted cryptocurrencies. Countries like the USA and Denmark are also open to any discussion on how to properly implement the regulation in cryptocurrency.
Bitcoin is new and have come a long way in its journey which is more than a decade long. Best part is, it is expected to reach new heights in the future.
Conclusion
Although we can guess and speculate what future Bitcoin investment would mean, the reality is that Bitcoins are like teenagers, and there is plenty of room for growth. It is still very new in the investment market, and thus any speculation cannot be based on a long history as it does not have any particular history. But if you are interested in Bitcoin investment, then you must visit this website as it is an application made for Bitcoin exchange and so much more.
