Many experts believe that when institutional money hits the market, there will be significant changes in cryptocurrency. In addition, cryptocurrencies will be traded on Nasdaq. This makes the blockchain even more reliable and will be utilized as an alternative to traditional currencies. Some experts even predict that Bitcoin will not be our next currency. Whatever it may be, do you really want to know what the future of Bitcoin is going to be? This blog provides insight into predictions of Bitcoin made by some of the experts in the cryptocurrency industry. So, check out how the future of Bitcoin is going to be in the coming year.
- Bitcoin is Likely to Reach $100,000 – Steve Ehrlich, the Chief Executive Officer of Voyager Digital stated that he assumes that Bitcoin ups will surpass the downs in the coming year and will reach beyond $100,000.
- Bitcoin will be Embraced by More People – The founder of the Digital Assets Council of Financial Professionals, Ric Edelman predicted that this digital currency will be adopted by more than 500 million people around the world at the end of the year. People who support bitcoin also participate in Bitcoin trading, which has become easier especially with the introduction of automated trading robots. Bitcoin Profit is a fantastic trading bot that automates trading by continuously monitoring the price fluctuations of cryptos on the market. The Bitcoin Profit test results show that the bot is not a scam and can predict market trends faster than humans, resulting in profitable trades.
- Bitcoin will Lose the Control of the Market – Now, many new coins are being created, and also smart contract platforms are growing exponentially. In fact, many projects are being made on these platforms, which provides them with a greater market share. Many componentsof crypto have evolved greatly, the NFT market has boomed, DeFi and Metaverse have grown dramatically. Hence, it is assumed that Bitcoin will continue to serve as digital gold for this developing industry. It is also likely that Bitcoin will be replaced by more advanced, faster coins. Jack Dorsey, theBitcoin maximalists assumes that Bitcoin will become the internet’s native currency someday.
- More regulations will be Imposed on Bitcoin – Several industry players expect that clearer regulation will be imposed on Bitcoin, which will help create more confidence in investors.
- Bitcoin Will Outperform or Underperform – Some experts anticipate that Bitcoin will surpass or fall short in the S&P 500 in 2022.
- Bitcoin is likely to Expand Further in the movements of the Stock Market – Being a risk-on asset, due to its behavioural history, Bitcoin can go beyond the expectations if the stock market grows.
- Bitcoin will Stay Closely Connected with VIX – Many people assume that Bitcoin will stay closely associated with the Volatility Index or otherwise known as VIX.
The introduction of Bitcoin has triggered a debate about its destiny and that of different cryptocurrencies. Despite the latest issues of Bitcoin, its achievement considering its 2009 release has led to the introduction of various other cryptocurrencies including Ethereum, Litecoin, and Ripple. In fact, a cryptocurrency that wants to become a part of the mainstream monetary gadget are required to fulfil many criteria. While that opportunity appears remote, there is no doubt that Bitcoin`s achievement or failure in managing the demanding situations it faces will decide the destinies of other cryptocurrencies in the coming years.