If you want to understand bitcoin, you have to enhance your knowledge about bitcoin technology at an advanced level. It is only possible by reading bitcoin blogs and bitcoin books. First, you can understand the bitcoin technology, and after that, there would be clarity on whether you should invest in bitcoin. But it appears easy to enhance your knowledge, but bitcoin is not predictable. You cannot be sure whether this coin’s value will increase or decrease because it is decentralized. No third party is working behind it to support it. You do not know whether bitcoin will exist tomorrow or not, and it is a highly volatile currency. Price may go up and down instantly since it depends upon some factors. It will talk about the possibilities and predictions about bitcoin in 2030. If you want to start bitcoin trading check why bitcoin is better than central banking.
Bitcoin in brief:
Bitcoin came to solve the problems of domestic currencies by the notorious name Satoshi Nakamoto. There were many issues concerning domestic currencies, and there was no solution because the government regulated the domestic currency. Bitcoin is a digital coin that does not exist physically, and you can only send and receive through an electronic gadget.
Will Bitcoin Rise in the Future?
There are over eighteen thousand (18,000) cryptocurrencies in the market. But bitcoin is a unique cryptocurrency with high value and a limited supply of up to twenty-one million (21,000,000). The price of this gold coin is $39,157, which are 30,05,659 in Indian rupees at the time of writing. One bitcoin is worth 39,157 dollars, which means there is potential for bitcoin in the market.
The price of this digital coin fluctuates every second, and the fluctuations depend upon different factors. The significant aspect of bitcoin fluctuations in demand and supply and many sub-factors affect the demand and supply. There are a lot of bitcoin users who do bitcoin trading to earn profit from it, and there is a direct impact on the market and store through trading.
When the cost of bitcoin increases, take exist from the bitcoin by selling to earn profit. If selling is high, then the value of bitcoin will start falling, and if the buyer is high, then the value of bitcoin will start going up. So a bunch of factors affect the demand and supply of bitcoin.
There is an economics rule “if the desire for buying is strong and stock for selling is limited, then the cost will increase, and if the desire for buying is low and stock for selling is high, then the cost will decrease.” It is the same in the case of bitcoin, the supply of this gold coin is limited up to 21,000,000, and demand is increasing day by day. In addition, many new investors are spending or investing money in bitcoin to earn cash or other purposes. So there are high chances that the price of bitcoin will rise in the future, as you can compare the previous chart of bitcoin from 2012 to 2022 to know the instant fluctuations of this cryptocurrency.
Prediction in 2030:
There are a bunch of predictions about bitcoin prices. Some experts or analysts say bitcoin will touch 1,00,000 dollars in 2022, and some say it will cross 2,00,000 dollars at the end of this year 2022. There are a lot of articles or news articles on the internet saying that bitcoin will cross 1,000,000 (One million) dollars by 2030, but it is just a prediction. It is only possible when the existing bitcoin holders invest more money in bitcoin cryptocurrency and will not sell a single unit of bitcoin before eight years. Suppose people start holding bitcoin for the long term or the next eight years. In that case, there will be low supply, and low supply means high value since demand will automatically increase. If you think the prediction is correct, before investing in bitcoin research on your behalf because it is a very risky cryptocurrency.
Conclusion:
Bitcoin is challenging to forecast since no single person is behind it managing the pricing model. Some aspects decide the price of bitcoin, such as demand and supply. Many experts assume that the cost of bitcoin will touch 1,000,000 dollars, but there is no guarantee.
