Despite the falling prices of Bitcoin and several fluctuations, Bitcoin price continues to fall. After touching it’s peak price of $19,650 in December 2017, the BTC price continuous to show a downward trend. It has never touched 12,000 USD since the peak price in Dec 2017 and particularly in March 2020.
Crypto Influencer Mia Tan predicts that Bitcoin maybe worth 15 times in two years more than now after price touches $6500 level.
It’s amusing to see people trying to buy #bitcoin at a lower price.
It won’t make sense if you buy #BTC at $4,000 or $6,000 now provided that you’ll sell it in 2 years for 15 times what it’s worth.
Where’s your confidence gone? Don’t miss the chance.
— Mia Tam (@blockandchain) March 22, 2020
I don’t care that Bitcoin’s price could drop to $3,000 because I know it’ll hit at least $200,000 in 3 years.
I’m just buying.#BTC
— Mia Tam (@blockandchain) March 23, 2020
That maybe hard to achieve within two years because BTC has never touched 11,000 USD in the last 365 days.
Earlier several reports claimed that 2020 is believed to be the year of bitcoin and this only it’s time for bitcoin halving.
This tweet further questions the digital currencies –
Think of it less in terms of the “price of bitcoin” and more in terms of the “exchange rate between BTC & USD”
Now consider what happens as the supply of bitcoin remains fixed (21M) while the supply of dollars becomes infinite.
— Russell Okung (@RussellOkung) March 24, 2020
It’s only small percentage of people and mostly tech people and small percentage of traders know about bitcoin. Most people don’t know how to invest in Bitcoins, what is bitcoin and how to buy Bitcoin. Most of them keep asking questions like – should I invest in bitcoin? Is the cryptocurrency Bitcoin a good idea? What is Bitcoin (cryptocurrency)? What is blockchain technology? What is Bitcoin mining?
There is a question mark overall on crypto-currencies because several countries have banned trading on such digital currencies. India, the world’s second most country with highest population has already banned Bitcoin and other digital currencies in April 2018.
On the other side, Andrew Bailey, new Governor of Bank of England, in a tweet warned bitcoin investors to be prepared to lose all of your money.
BREAKING: The Bank of England governor-designate, Andrew Bailey, says those holding bitcoin should “be prepared to lose all of your money” and “bitcoin has not caught on much”
ok banker pic.twitter.com/eu4bolovWf
— Blockfolio (@blockfolio) March 4, 2020
On a happy note, as reported by Les Echos, the French authorities has now qualified BTC as legal form of money.
Surely the dark clouds looms over bitcoin future or atleast you can say that there are a lot of uncertainties. But at the same time we can’t deny the fact that digital currency is the future, after all it brings “one world one currency“.