Bitcoin experienced the most substantial price change in late 2017 when its price topped $ 20,000. Back then, it sparked a lot of speculation about how Bitcoin will behave next and what awaits the digital currency in the coming years.
Two years later, Bitcoin again presents a strong potential signal. Investors warm up anticipating that the Bitcoin price will begin a crazy price rise for the foreseeable future. While there is no way to accurately determine when this will occur, some of the projections indicate that Bitcoin can easily jump to the $ 50,000 price level.
Bitcoin ups and downs
There is a lot of skepticism about it, of course. Although Bitcoin may show outstanding price potential, it does not give you the immediate right to be qualified as a means of payment or to be accepted in any country in the world. Bitcoin is considered by some to be a purely speculative tool, which is why people like Jim Rogers believe that in the long run the price of BTC will drop to zero.
Such predictions seem overly pessimistic, as Bitcoin's history shows that it tends to bounce back from even the lowest dips and then skyrocket even further. This has already been witnessed in 2020: starting the year at an optimistic level of $ 7,000 and rapidly progressing to $ 10K, BTC then went to lower terrain of $ 4,474 during the market turmoil in March nicknamed 'Black Thursday', and still thriving around $ 9,273 at time of writing.
The bubble that never bursts
That is something peculiar to Bitcoin. Despite all his objections from detractors, he continues to take firm steps in the system and achieve higher ground contrary to all negative forecasts. All the talks about the bursting bubble have yet to come true, and to the contrary, Bitcoin proves to be stronger than before and continually earns a solid place. With a growing number of new adopters, this cryptocurrency is an asset that many investors relate to with high hopes.
While Bitcoin does not necessarily take a leadership role in the fintech transformation of the future, it will remain an attractive investment vehicle as people create decentralized money in the future.
Being the largest cryptocurrency and the pioneer in the field, Bitcoin was the first to attract the decentralized approach to the mainstream and is still the most popular choice among novices today. As public education about cryptocurrency continues to grow, the excitement around Bitcoin may very well not fade anytime soon.