Bitcoin currently the most dominant cryptocurrency on the market. Over 5 million people use it for various reasons and the best part is that thousands more are joining each day. After all, its value is second to none, Bitcoin has greater liquidity than any other cryptocurrency, it is far more secure, and is more stable than the competition.
Thanks to the fact that Bitcoin is well-developed, many experts believe that its value will continue to rise in the future. That is the topic that we wanted to discuss in this article. We’ll be taking a look at the reasons why will Bitcoin continue to rise in the future. But first, let’s see where can you trade this cryptocurrency for a profit.
Where Can You Trade Bitcoins?
When it comes to trading Bitcoins, there are two options. The first one is Bitcoin ATMs, while the second is trading sites. Up until a few years ago, Bitcoin ATMs were the only option but ever since trading sites appeared, ATMs are rarely used. The reason why is that trading sites are far easier to access and have much lower fees.
Here’s how the process of selling Bitcoins at trading sites works. First, you will need to find a reputable trading site that is secure and has a solid profitability rate. Then, you register by filling out an online application form. After that, you will be asked to verify your account and finally, select a payment method.
After these steps are completed, you will be able to connect with buyers from all around the world. One of the trading sites that is extremely secure has a high profitability rate, and is used by thousands of people, is Bitcoin Digital. The registration process here is very simple and traders of all ages and skills can complete it with ease.
Now, let’s see why will Bitcoin continue to rise.
Bitcoin’s Scarcity is Increasing
With each passing year, Bitcoin is getting scarcer. As you may know, the number of Bitcoin units is not unlimited. When it was created, Bitcoin was limited to 21 million units. So, while the demand for this cryptocurrency remains the same or higher, the supply will go down. And as with any product on the market, if the demand is higher than the supply, its price will go up.
Research shows that 99% of all Bitcoins will be mined by 2032. Additionally, 100% of all Bitcoins will be mined in 2140.
Higher Institutional Interest
Institutional interest plays a major role in Bitcoin’s price and here’s why. Thanks to the fact that many companies from all around the world accept Bitcoin as a payment method, they allow its infrastructure to grow and thus, maintain its stability. The higher the stability of Bitcoin is, the more valuable it becomes.
Speaking of the institutional interest, it is worth noting that some of the global brands that accept Bitcoin are Expedia, Starbucks, Microsoft, Overstock, and Whole Foods. Not only that, but recently, El Salvador made Bitcoin a legal tender and became the world’s first country to do so. In the future, more companies will join its network, thus making Bitcoin even more stable.
It Will Remain The Most Dominant Cryptocurrency
There are many cryptocurrencies on the market. Research shows that there may be as many as 2,000. But, thanks to the fact that Bitcoin is far more stable and more valuable, it will remain the most dominant cryptocurrency.
Early projections state that Bitcoin’s price will go over $100,000 in late 2021 or 2022. Additionally, this cryptocurrency is likely to reach $500,000 by 2030. Finally, experts predict that Bitcoin will break the $1 million barriers in 2037. But, as of right now, there is nothing to do, except wait and see whether these projections will be true.