Why Is It Hard To Determine Bitcoin’s Future?
As 2021 keeps unfolding, Bitcoin remains a trending topic. The cryptocurrency is now used by more than 5 million people from all around the world and the success that it had in the past 6-7 months has been nothing short, but amazing.
It became as valuable as gold and even went past it at one point in April. That is why thousands of new people register each day. Experts predict that Bitcoin can rise as high as $100,000 by the end of the year.
But, one of the things that they cannot predict is its distant future. That is exactly the topic that we wanted to discuss in this article. We’ll take a look at the two main reasons why it is impossible to determine what the distant future holds for Bitcoin. Let’s start breaking down the details.
Why Do People Use Bitcoin Today?
The first thing that is worth a mention is that many governments deem Bitcoin as an outlaw. However, millions of people are fond of it as they can use it as a payment method at many companies. The list even includes several dozens of global brands such as Expedia, Starbucks, Wikipedia, and Shopify.
After all, Bitcoin has quite a few great features including better online security and instant online transactions. But, even though Bitcoin is superior to regular payment methods, most people sign up to its network to trade it for a profit.
Trading Bitcoins can be done at trading sites such as the Yuan Pay Group. These trading sites allow you to connect with people that want to buy Bitcoins anonymously. Not only that, but they have advanced AI systems that can help you sell your assets at the best time.
Trading sites are operating online and the best thing about them is that you can access them from any mobile and desktop device, which makes them very flexible. To gain access to their services, you just need to register.
Now, let’s see why it is hard to determine Bitcoin’s future.
Banks Are Not Regulating Bitcoin
The first reason why it is impossible to determine Bitcoin’s future is banks. Bitcoin is a self-sustainable currency, meaning that it is out of the control of the banks. In a way, it operates against them. Thanks to the fact, Bitcoin transactions are instant and come without any fees.
Banks process online transactions much longer and charge fees. Fees are actually the main way through which they profit from every payment. Bitcoin completely cuts them off from the process. The bad thing here is that banks are pretty powerful subjects in both national and global financial politics and can lobby against Bitcoin with ease.
Governments Do Not Control It
Not only does Bitcoin oppose banks, but it also opposes governments. How? Bitcoin is highly decentralized and cannot be controlled by any institution or authority. Thanks to the Yuan Pay Group app, pretty much every user has an active role in making sure that the network remains stable.
What do We Know About Bitcoin’s Future?
Bitcoin has two of the most powerful institutions in national and global politics against it, which is why it is impossible to determine whether it will become an official payment method/currency in the future. Some are optimistic and think that thanks to the massive support of the public, it will become legal, while many think that it will forever remain an outlaw.
The things that we do know is that 99% of all Bitcoins will be released in 2032. However, 2140 is the year when all Bitcoins will be released. As you may know, Bitcoin is not an infinite currency. Research showed that it is limited to 21 million units.
