A single Bitcoin is worth upwards of $18,000 in 2023. But believe it or not, that same Bitcoin was only worth about $1 a decade ago.
This illustrates just how far Bitcoin has come over the course of time. It also suggests the future of Bitcoin could be more unpredictable than people might think.
So, what is the future of Bitcoin? Well, if anyone knew that, they’d likely keep it to themselves. They could use their Bitcoin outlook to make themselves filthy rich in one way or another.
There are, however, some Bitcoin predictions that we feel comfortable making as we move forward. These predictions get us excited to follow along with the Bitcoin market based on where we think it might be headed.
Let’s discuss the future of Bitcoin by making some Bitcoin predictions. Continue reading to check out these predictions.
Increased Awareness
According to a survey that was done just a little more than a year ago, more than 90% of people don’t fully grasp what Bitcoin is all about. For example, they don’t know that the total number of Bitcoin is capped at just 21 million and isn’t going to go any higher than that.
One of our first Bitcoin predictions is that more people are going to begin learning about Bitcoin soon. It’s only a matter of time before the number of people who know all about Bitcoin outnumbers those who don’t know much at all about it.
If you’re someone who doesn’t know much about Bitcoin at the moment, there is really no excuse for it. It has become so easy to learn all about Bitcoin by reading through articles online.
More Consistent Prices
The Bitcoin price has fluctuated wildly over the last couple of years. It hit the $70,000 mark in 2021 before a crypto crash send the price of Bitcoin plummeting back down to earth.
The Bitcoin market is going to remain in a state of flux for the foreseeable future. But at some point, it’s going to stabilize and the Bitcoin price will remain consistent for longer stretches of time. This could very well make it a more appealing investment option for those who might be scared off by its price right now.
Better Regulation
“Better” might not be the right word to use here, as there are a lot of people who would like to see Bitcoin remain unregulated by the government for the most part. But it sure looks like the government is going to step in soon and regulate Bitcoin and other forms of cryptocurrency to some degree.
There are still many questions surrounding how the government could potentially regulate Bitcoin. But the thought is that they could do it by finding better ways to tax those who convert cash to Bitcoin and vice versa.
Whatever the case, it would be a huge surprise if the government didn’t find at least a few ways to start to regulate Bitcoin better than they are now. And it could end up having a huge impact on how people buy and sell Bitcoin in the future.
Easier to Use
As of today, there are already quite a few retailers that will accept Bitcoin and other forms of crypto when you’re making payments for goods and/or services. But there are going to be so many others jumping into the mix soon by accepting Bitcoin payments.
One recent report revealed that about three-fourths of retailers will accept Bitcoin payments within the next couple of years. This alone could start to help make Bitcoin more valuable since it’ll be seen by more people as a true currency as opposed to just a passing fad.
If you’re someone who has bought into Bitcoin fully, you’ll appreciate getting the opportunity to use it more often than you already are. It might not be long before you’re able to pay for things like, say, your morning coffee with Bitcoin rather than cash or a card.
Stronger Ecosystem
One of the reasons why more retailers have already started accepting Bitcoin payments is because there isn’t a strong ecosystem in place that’s designed to allow them to take these payments. It can take a long time for Bitcoin payments to go through, so it isn’t always practical for companies to accept them for smaller purchases.
But there is a stronger ecosystem coming, and when it arrives, it could take Bitcoin to the next level. Companies will suddenly be able to accept Bitcoin payments in the blink of an eye, and that alone could help propel Bitcoin and make it more universally loved.
Many other types of crypto are also going to benefit from this stronger ecosystem. But it’ll be Bitcoin that will come through the door with guns blazing and changing the way that many Americans pay for things. This alone should provide Bitcoin with a very bright future.
More Bitcoin ATMs
Two or three years ago, Bitcoin ATMs were few and far between. Most of the Bitcoin ATMs scattered throughout the world were located in countries other than the U.S.
But it sure looks like Bitcoin ATMs are here to stay in the U.S. at this point. They’re starting to pop up all over the place and have been spotted in convenience stores, restaurants, and other establishments.
If you haven’t come across any Bitcoin ATMs yet, just wait! You’re going to start to see them appear in some of the places that you visit in your city in the near future. Learn more about where they’re located so that you can find one nearby.
The companies that are setting these Bitcoin ATMs up are also making them easier and easier to use as time goes on. Once you sign up for an account at a Bitcoin ATM, you’ll be able to use it to buy and sell Bitcoin in a hurry. This could make the universal appeal of Bitcoin stronger and have people scurrying to Bitcoin ATMs just like they scurry to regular ATMs now.
Improved Coverage
Bitcoin has been a little bit of a novelty act in the mainstream media over time. The highs and lows of the Bitcoin price have helped it earn media coverage, but many media members have failed to take Bitcoin and crypto as a whole seriously.
That could be changing soon, though. With so many people showing a sudden interest in Bitcoin, many media outlets are starting to see the value in providing it with serious coverage. There are so many so-called “crypto experts” being hired to cover Bitcoin from all angles.
This is yet another thing that could lead to more awareness surrounding Bitcoin and eventually more people buying and selling it because they feel like they’re missing out on something by not investing in it.
Keep your eyes on how the media covers Bitcoin and other forms of crypto moving forward. You shouldn’t be shocked if you start to see more coverage on the different crypto markets.
Increased Competition
From Ethereum to Litecoin, there is already a lot of competition for Bitcoin in the crypto space. There are so many types of crypto that people can buy and sell in this day and age.
But guess what? This might only be the beginning! The thought is that even more forms of crypto could be coming soon, and this could create some stiff competition for Bitcoin.
Bitcoin got such a big start on the other types of crypto that we wouldn’t expect for any of them to completely dethrone Bitcoin. But Bitcoin isn’t going to be able to coast like it sometimes has in the past thanks to the competition it’s facing.
As soon as a stronger ecosystem exists for crypto payments, other forms of crypto might start to inch their way closer to Bitcoin. This could affect the Bitcoin price and create some uncertainty surrounding it.
Better Reputation
Bitcoin’s reputation has fluctuated almost as much as its price has over the years. When it first emerged on the scene, it had a solid reputation among those who used it for investment purposes. It looked like its price was going to continue to rise and then level out.
But after a series of setbacks that saw the Bitcoin price plummet, Bitcoin’s reputation has seemingly taken one hit after another. It has made some people apprehensive about the idea of investing in it.
As of right now, Bitcoin doesn’t have a bad reputation among investors. But there are some people who have gotten burned by it in the past. These people don’t look as favorably upon Bitcoin as they once did.
To turn this around, Bitcoin is going to have to level out like people expected it to years ago. It’s going to have to stay consistent in terms of price and stop making people’s investment portfolios bounce up and down on an almost daily basis.
It’s going to take some time for Bitcoin to get a grip on the volatility that has impacted it so much over the years. But one of our biggest Bitcoin predictions is that it’s going to be able to do this. That should leave Bitcoin in a much better place than it’s in now.
Less Worrisome
People who have Bitcoin in their financial portfolios aren’t able to rely on it right now. They worry about what the future might hold for it. It’s why most financial experts recommend that people only devote a very small percentage of their financial portfolios to Bitcoin and other forms of crypto.
Generally speaking, we believe that people are going to have to worry less about Bitcoin in the not-too-distant future. It’s not going to wreak havoc on people’s investment portfolios as it does now.
At the same time, Bitcoin also isn’t going to put people in positions to get rich quickly like it has done in the past. They’re not going to experience the kinds of spikes they’ve seen when it comes to the Bitcoin price. But that isn’t necessarily going to be a bad thing.
The hope is that Bitcoin will level out as we mentioned earlier and make it easier for people to count on its price to hold steady. This will make people more motivated to invest in Bitcoin, and it’ll push Bitcoin to the top of the crypto food chain whenever everything is all said and done.
Before you know it, Bitcoin could be as highly regarded as stocks and bonds are, which would be great for the crypto community. It would also be great for Americans as a whole.
People are always on the hunt for consistent investment opportunities that will help change their financial futures. Bitcoin might prove to be this kind of opportunity. If it does, it’ll turn into a staple of the financial planning sector and improve the lives of millions of Americans over the next few decades.
Take These Bitcoin Predictions to the Bank
No one knows exactly where Bitcoin is going to land in the coming years. But if even a few of these Bitcoin predictions come true, it could change the landscape of the American financial industry forever.
If you haven’t invested in Bitcoin yet, you should look to change that as soon as you can. You might be able to put yourself into a much better financial position than you’re in now by fully embracing Bitcoin and everything it can offer.
Want to read more great crypto content? Find it in some of the other articles that have been posted on our blog.
