More than 4 months have passed since Bitcoin broke the 2017 record in value and the cryptocurrency keeps breaking barriers. Not only did it reach a value of $50,000 and became as valuable as gold, but indicators show that Bitcoin does not plan on stopping there. It has the potential to go as high as $60,000.
Not only that, but Bitcoin has learned from the mistake made in 2017, when the market was overflown with it, which led to its collapse. This time, even though thousands of people join the network each day, the network remains stable and continues to grow with a controlled pace. The good control is the reason why Bitcoin hasn’t experienced any massive drops in value. Just to compare the results, after Bitcoin reached its peak value in 2017, the price for it plunged in a matter of 2 days.
Since this cryptocurrency is often labelled as the future of payments, we decided to see what the experts think – will Bitcoin become an official payment method in the future or not? Let’s check its current state and then, we’ll take a look at their opinions.
The current state
Right now, Bitcoin is still outlawed by many banks and governments from all around the world. But that does not stop the people from using it. There are over 5 million Bitcoin users in 2021 and they mostly use this cryptocurrency to make a profit. If you are wondering how they do that, we are more than happy to explain.
After spending a lot of time mining it (which is a process of verifying transactions) Bitcoin traders turn to trading sites which can help them sell their assets. Let’s take Bitcoin Profit as an example of a reputable site that provides traders with an extra service which maximizes their profits.
This platform has advanced AI systems which analyze the market and collect all data about Bitcoin. That data helps the AI form pretty accurate predictions on Bitcoin’s future fluctuations. This information is vital to traders as they know when is the right time to sell their Bitcoins. Thanks to the success of Bitcoin Profit’s AI system, thousands of registered users make a profit each day.
It is also worth mentioning that some global brands accept Bitcoin as a payment method today. Some of them are Microsoft, AT&T, Starbucks, Whole Foods, and dozens of other companies.
The experts that believe in Bitcoin’s potential believe that this cryptocurrency will become the official universal global payment method in the future. They claim that due to he fact that Bitcoin is user-orientated, its popularity will continue to grow and reach a point in which the majority of the world’s population will use it as a payment method.
With that being said, the people will put massive pressure on their governments to legalize it and make it official, which will happen eventually. After all, democracy says that the people are the governing body, not a handful of politicians.
Some experts oppose it
On the flip side of the coin, many experts believe that Bitcoin will forever be an outlaw. The fact that it does not bring any profits to banks and cannot be controlled by the governments is the reason why. Governments are not fond of things that they cannot control, hence they will put massive efforts and money into blackballing Bitcoin and making sure that its presence disappears.
One thing is sure – only time will tell whether Bitcoin will reach its goal and become an official payment method. What do you think, does this cryptocurrency has what it takes to reach this milestone or not?