Bitcoin; The Future
Few days ago, The cryptocurrency bitcoin hit the $8000 mark. Currently, a single unit is worth $8309.73 with market capitalization at $138.71 billion. Investors are happy, some people are selling whilst others are buying. The coin is estimated to be worth $10000 by years end.
Now something worries me. would bitcoin settle at a particular price, or would it just continue to rise? Are bitcoin transactions on the increase or on decline?
I ask this because I am a holder of Bitcoin, I don't see myself using it to purchase a commodity when I know that it's value would surpass my purchase in the next two days.
With this reasoning, I know many people also wouldn't want to use it for transactions. We'd rather keep it for ourselves(hoard it) till we feel it's time to cash out. Bitcoin is becoming just a commodity to invest in than an actual currency for exchange if goods and services.
What would the future of Bitcoin be like? Would it keep on rising? Is there an imminent fall?
Comment below your views and opinions
@pasaift
Things go up and things go down. It's a market like any other. Price is determined by demand.
Bitcoin is popular because most people have never heard of any other crypto coin.
This will change.
true
Better to watch and monitor what goes on in the market.Better also to believe that investing in it could bring profit to investor or loss, anything is possible
@pasaift,
Signing in......................
Cryptocurrency is a market that is very unpredictable. Let continue to hope for better and the worst. I prefer the better though, if you know what I mean.
@stevenmosoes
Signing out..........................
I personally believe the cryptocurrency bubble is gonna burst soon, but nobody knows whether the price is gonna go up, down or in fucking circles. Interesting point about it being only a investment, rather than a currency for trade.
cryto currency rise is not to infinity, the emergence of other crypto currency and its rise might check mate bitcoin. just like dollar and euro price, a decision will be taking one day peg the price of crypto.
Am seeing a quick steem appreciation soon.
already began
Yes. Am happy for that.
Hey bro @pasaift, you raised an important question:
People would rather hodl BTC than transact with it because of the rising value.
From the recent trends, I think BTC will eventually become a store of value (like Gold) while other cryptos will be used for daily transactions.
So you are still benefitting, it doesn't really matter in the end.
Cheers brov.
#Hug-Challenge!
Since I started investment in bitcoin, all I got is profit, profit and profit
Resteemed your article. This article was resteemed because you are part of the New Steemians project. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch
cryptocurrency market is totally unpredictable and we should always look at the market for betterment.