Bitcoin prices in 2019 had been marred by volatility which has made bitcoin growth prediction in short-term a challenge, even for the professional analysts.
With increasingly positive voices in favor of Bitcoin, it remains stable and investors will determine whether it will increase in value until the end of the year or whether it will stay around these levels. Many of the enthusiasts are predicting higher peaks as well as newer peaks for the cryptocurrencies.
Therefore, as we go deeper into who’s saying what and why here’s a heads-up! As an investor, expect a lot more price fluctuations in the interim. It is going to create a challenging ride getting to wherever Bitcoin heading by the year’s end.
Is bitcoin growing?
Much of the investors are holding their holdings patiently to find out whether bitcoin will resume their uptrend or not. Therefore, it is still too early for most of the investors to make their decisions. However, institutions are increasing their presence in the cryptocurrencies world as well which is sure to benefit the cryptocurrencies arena and would increase value and credibility to bitcoin in the future as well. Therefore, this is one of the primary reasons why it does not see further decline.
Factors affecting bitcoin growth.
Investors can store their bitcoins in a digital wallet though it can be vulnerable to scammers attacks. Also, there is no governing authority which limits the mob to trust the currency entirely. Even though, the technology gives complete access to the user for total control of his/her currency, new updates for fixing some weak points and bug on the blockchain technology can provide an impetus for price growth. Temporarily, successful account saver or hackers attacks can bring down the bitcoin growth.
Bitcoins are a highly volatile asset whose value fluctuates very quickly. Therefore, when bitcoin value reached its peak traders and investors got attached towards it. However, when they understood the volatile nature they then refrained themselves from it.
Lack of Awareness:
Bitcoin is an application of blockchain technology about which individuals do not have much knowledge and myths traveled faster than truth. Even though the bitcoin concept is complex and tricky to understand at first for a beginner, they view it as a too technical approach.
Many fiat currency users alleged the currency bad as the blockchain technology involved only peer-to-peer and eliminated third-party intervention in the transactions. There is no record of transactions regulatory and governing authorities. Money laundering actions should rise because of the same which indeed is a risk to country’s economy.
The blockchain technology on which bitcoin functions has seen massive growth in its transaction last few years. Today, it only has a limit of three transactions per second which elevates the question of scalability as to when it will have full-fledged use.
In conclusion, experiments and researchers will give breakthrough in the landscape of bitcoin that will define its future path.
However, as bitcoin mining is also gaining rapid growth, this implies that there is a scope of a new era in bitcoin growth.