Bitcoin Price Prediction
There is probably not a soul out there who hasn't heard of Bitcoin in the market today. It's widely talked about because of how well it does, even though it's a risky investment. Many people look at it and are amazed because it's holding its own and though it does have it's ups and downs, it usually ends up good. Does that mean everyone will invest in Bitcoin and what is the Bitcoin price prediction?
What Is Bitcoin?
It is a cryptocurrency that is available globally. More and more people like Bitcoin because they have complete control over their finances when they use it. There are many options that are available with Bitcoin and since there is no center governance over it, people love that they are the ones that do what they want with their money. Satoshi Nakamoto is the person that started Bitcoin in the beginning.
The Blockchain For Bitcoin
The Blockchain for Bitcoin are databases that are very secure. The concept began in 2008 and was first implemented in 2009 by Satoshi Nakamoto. Blockchain is how the transactions are documented. It is the public ledger of all of the Bitcoin transactions and it is secure and safe, to say the least. Blockchain is another reason why traders love Bitcoin because they know that it is being watched at all times and that it is safe and secure.
Bitcoin's Interesting Value
Another interesting fact about Bitcoin is that it is not backed by anything - not gold or precious metals. BTC price and value comes in terms of how many people accept and use it. There are many individuals, merchants, startups and more that use Bitcoin as a regular means of payment. It's widely used and accepted and that makes it have its value. A lot of Bitcoin price predictions are based on how the general population values the coin.
The Cryptocurrency That People Love
A cryptocurrency is like an online banking system that allows people to use their funds in any way that they want. It is all completed online and this is what Bitcoin users love. They want to be able to make a transaction that cannot be altered, changed or messed with and they find this with Bitcoin. There are all kinds of options that they can make use of when they use Bitcoin for their business and personal transactions. It has become extremely popular for people and businesses all over the globe. Bitcoin has become widely accepted and you can even purchase it with a credit card.
For Investors, Bitcoin Offers Lots Of Promise
Investors that are in the game for the long haul will see that Bitcoin can give them tremendous opportunities for decades to come. They will be able to put their money into it and get plenty in return. For this reason, many investors are taking to it readily. They have faith that it will continue to defy the odds and come back each and every time that it dips a bit. They want the price of Bitcoin to steadily grow, and it looks as though it will continue to do exactly that.
Why Is Bitcoin So Popular With Traders?
The reason that so many people are interested in Bitcoin is that it beat the odds. It was said that it would be a market bubble and would be destined to fail. So far, Bitcoins price has always come back from a low and has risen in price many times. Traders love to take a risk on something that looks like it will be around for a long time to come. Do they watch it closely? Absolutely, they watch Bitcoin all the time and there are many traders that think that it will rise significantly in the near future. Most of their prediction is speculative and that helps BTC price to gather more momentum in the market at various times.
Is It Possible For Bitcoin To Be Hacked?
As with any investment, there are chances that security problems may exist but rarely occur with Bitcoin. The system being hacked is highly unlikely because it's watched on a regular basis. In the trading environment and process, there may be a slight chance that there could be security risks that may come up. They will be handled in a safe and efficient way if they do occur at any time. The only time there have been hacks it has come from third-party components of Bitcoin such as exchanges or intermediaries for where you purchase the token itself. The actual chain itself has never been hacked.
Is BTC Price On The Rise?
It is said that Bill Gates said that having some Bitcoin is better than having money. This is because Bitcoins price prediction is that it is going to $500,000 by the end of 2020. This doesn't necessarily mean that it will happen for sure. There are many other cryptocurrencies on the market that are better known and may rise in their price too.
How Long Will It Last?
Yes, Bitcoin will never completely die. It will be around and it will have value. The value that it will have in the future will depend on how the other cryptocurrencies do in the long run. Many of the other ones may or may not take up quite a bit of the market share but Bitcoin will hold its own and eventually go up. How high it will depend on many factors that will affect the market at any time. We believe in the long term it will be the crypto of choice and act as the rails for money all around the world.
Can Bitcoin Be Converted To Money?
If a person wants to get their money out of Bitcoin right away, they will have to convert it by using Kraken or Coinbase. These are ways that the money in Bitcoin can be converted to cash because it has to go through a cryptocurrency company. If a person wanted to take all of their money out of Bitcoin, it's possible that they can after they go through the proper steps to do so. The seamless transition between Bitcoin and fiat money has had a positive impact on the Bitcoin price predictions.
Is Bitcoin Risky?
As with any investment, people are taking a risk when they buy Bitcoin. They will want to also have other sure bets in their portfolio to be on the safe side. It will make a difference for them to have these definite winners when the market is so volatile. They can get into Bitcoin for the long or short haul and it will depend on what their Bitcoin price prediction is at the time. History has shown that the BTC price has been quite volatile during certain periods. For many investors, its a stock that they know will come out good in the end and this gives them the sense of security that they desire even with the risks involved.
Having Bitcoin For Retirement
Many investors are using Bitcoin as part of their retirement options. They see that it will rise over the years and they want to have that added amount in the future when they need it. Lots of people nearing retirement age are investing lots of money in hopes that the Bitcoin price predictions are correct and can retire early. There are people that are younger that are also finding Bitcoin to be beneficial for them as they make more money over the years and the Bitcoin investment bodes well for them when they can retire.
Bitcoin vs. Amazon
Amazon does extremely well. With over $94 billion in sales in one year, it's one that traders look at fondly. They have a huge presence and their customers are extremely grateful and satisfied with what they do and what they have to offer. They're built on a concept that has taken over a great majority of the sales opportunities in the world today. Since their growth is unlimited, they are a great option to invest in for many traders. It not only handles half of all the online purchases from Americans and but it offers quite a bit of payment options to its people. It does not allow people to use cryptocurrencies like Bitcoin at all. There are some issues to look into with Amazon:
1.) Adopt Their Own Cryptocurrency - A company the size of Amazon could very well develop its own cryptocurrency. They would be able to use this very easily and all of its resources to do so. It has not done this in the past but if it did, the results would be very dangerous to the worth of Bitcoin. Amazon has such a huge presence and the damage that it would do could make Bitcoin almost worthless as a result.
2.) Stay Out Of Cryptocurrency Period - Since Amazon does very well on their own, they may stay out of the cryptocurrency sector totally. This will all depend on what their customers want. Their company is built on the satisfaction of their customers so if there is a lot of desire coming from their customers to have cryptocurrency available, they will most likely look into the options that they have.
3.) Take On A Competitor Of Bitcoin - There are other cryptocurrencies that they might consider. They could use Ripple or Monaco. Ripple has transactions occurring as many as 1,500 per day, which is a super-fast speed that can contend with Bitcoin in many ways. Any of the other cryptocurrencies that Amazon would choose would not topple over Bitcoin but it would take it out of the top spot that they are currently in. If they decide to use a cryptocurrency, the name will be larger than life overnight. In the worst-case scenario, if they exclude only Bitcoin, this will have a huge effect on it and it will decline in a fast and damaging way.
More Comparison On Return For Amazon And Bitcoin
As a large company, Amazon's IPO was $18. From 1997 - 1998, the returns that Amazon gave to investors were 6,000%. For Bitcoin, from 2016 - 2017, the investors received 2,000%. There are many people that are watching both Amazon and Bitcoin for what will happen on a daily basis and into the future. This makes a huge difference in how they invest in either one of them.
Comparing Amazon And Bitcoin
When comparing the two companies and how they are doing in the present is something that investors do religiously. They also study what happened to the two in the past so that they can predict what will happen in the future. It's a risk that they take with any investment, let alone the two of them. For many big companies, there will always be the ups and downs that investors will need to consider. Here are some comparisons of Amazon and Bitcoin:
1. Amazon - When Amazon was just starting out, it was during a time that was before the Dot Com bubble had burst. Investors know that the bubble burst and it hurt Amazon a lot. It went from $118 to $5. This is a drop of 99.2% and it took investors by surprise. There were many people that were hurt in the process. Today, Amazon's price is at a whopping $1,600 a share.
2. Bitcoin - Bitcoin on the other has shown a drop but nowhere near what happened with Amazon though traders still are watching and making comparisons to the two. Supposing if Bitcoin would experience a 92% drop, they would be down around $160 a share. This is something that investors need to consider if they feel that Bitcoin is going to be part of a bubble. There are many people that do think that way but others do not. Those that choose to look on the bright side about Bitcoin remember that Amazon at one time dipped from $118 to $40 a share so that puts everything into a better light.
Bitcoin As It Compares To Large Companies
Looking at a variety of graphs, the S curves and such, there are comparisons about how Bitcoin stands up to Amazon and a variety of other large companies. Since this is necessary for investors to do as they want to make sure that their investments pay off, they need to watch everything. Here are some comparisons of Bitcoin to other companies that they need to take into account to make sure that they understand the big picture because of the complexity of the issues at hand:
1. Market Cap - Amazon has a market cap of $970 billion. Bitcoin has a market cap of $112 billion. Putting that information for traders to look at can make a huge difference in how they view the results of Bitcoin and its movement on the market. Comparing the two companies has a lot to do with agitation towards Bitcoin and people feeling that it is part of a bubble and the bubble will eventually burst.
2. Apple's Worth - The first company to be worth in the trillions of dollars was Apple. Apple is worth $1 trillion dollars. It is worth $888 billion more than Bitcoin, as Bitcoin is at $112 billion. Of course, traders know that with Apple they have a sure bet but with Bitcoin, they can rely on it doing well in the years to come but will experience a number of ups and downs.
3. Gold Worth - Next to Gold, Bitcoin pales in comparison. It is 70X less than the worth of Gold. Gold has a value of $7.8 trillion. Investors are wise to put some money in Gold as they add to their portfolio. They want to have the best success at the goals that they have for their future and Gold is a way that they can get there too.
4. Cryptocurrencies - The worth of all the cryptocurrencies in the world is $202 billion. All the physical money in the world is valued at $34.3 trillion. Bitcoin represents a global way of handling money by online means only. Since it has risen in popularity over the years, it will continue to offer people a way to control their financial transactions themselves since it is not governed by any third party.
5. Money In The World - $86.5 trillion is how much money is in the world today. Cryptocurrencies are only .23% of that coming in at $202 billion. Since the cryptocurrencies, in general, are still evolving and building, they will only increase in the value over the years as more and more people lean toward completing their financial concerns in this manner.
To Put Things Into Context
Large companies like Amazon and Apple are worth an extremely large amount of money. The two companies combined are worth more than Turkey's GDP at $851 billion. When the worth of both of these companies is added together it equals the entire amount of the USD circulation which is $1.5 trillion. This puts things into perspective when comparing these types of entities to that of Bitcoin. Jeff Bazos is the head of Amazon and he is worth 10% or roughly $112 billion.
Bitcoin is and will continue to be an investment that proves to be an excellent choice for many investors. They know that they are taking a risk but it's one that will pay off for them in big ways. As they watch the market, they know that by having some of their money invested in Bitcoin, they have made a wise choice that will continue to offer them great leverage for decades to come. To keep up to date with our Bitcoin price prediction and other cryptocurrency news head over to the homepage!
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