We’re living in unprecedented times. We’ve witnessed the incredible rise of Bitcoins price and other currencies powered by the revolutionary blockchain technology. The question now, however, is this – how much more can we expect from Bitcoin and cryptocurrency in general? To try and answer that, let’s take a look at some of the catalysts that may see Bitcoins price skyrocket even higher in the future.
Here are 6 catalysts that could skyrocket bitcoins price:
1. Increased demand
Cryptocurrency as a concept is still relatively new. More people are, however, becoming aware of the potential benefits to be had with crypto, and we can confidently expect that the industry will grow past a popularity tipping-point. At this point, the demand will skyrocket even more impressively than we’ve seen in the past few years.
The world is shrinking. The advent of the internet age has made the ties between countries and people all over the world tighter than ever before. Cryptocurrencies such as Bitcoin are the next step in this evolution. People who are in constant, real-time, social and professional contact with each other will want a safe, secure, and reliable way to transact value that is independent of geographic borders. Cryptocurrencies provide the most elegant solution to this demand, and its value will further reflect this in future.
3. Widespread adoption
The number of businesses accepting payment in the form of Bitcoin continues to rise. This has a domino effect, as more companies accept Bitcoin, the more other companies will be reassured of its reliability, feeding into a cycle that will inevitably drive Bitcoins value upwards.
4. Generation Z
The current generation (Generation Z) has lived through a time of endless financial crises. There is a real and widespread feeling of distrust towards the established financial world. Bitcoin and its peers offer a realistic option to traditional centralized banking, and as soon as upcoming generations enter the workforce and become the holders of economic power, cryptocurrencies will have a more powerful seat at the high table.
5. Finite supply
Bitcoin, by its very design, is not endless. You can always print out more paper money when you need it but there will only ever be a maximum of 21 million Bitcoins. As the supply of mineable Bitcoin dwindles over time, the demand will likely outstrip the supply, leading to an inevitable rise in its value.
6. The Blockchain renaissance
The trend we’re witnessing of organizations turning to blockchain technology as the next frontier in smart contracts, fund-raising, operational transparency, among other functions will serve as a catalyst for even wider acceptance of cryptos such as Bitcoin as viable means of exchange.
So there you have it, sic catalysts that could skyrocket bitcoins price. It’s a lot less complicated than most people are yet to realize. By every indication, we can only look forward to greater things from crypto-technology. The Bitcoin train may have already left the station, but it seems there’s still time for people to hop aboard before it gets to full speed on its long journey ahead.
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