By Shelly Melancon (Switzerland)
Bitcoin remains the leader in the world of digital assets. The moment doubters and nay-sayers feel it is going to crumble, it continues to rise like a phoenix. It has exceeded the expectations of everyone amid troubling volatility. In this article, we are exposing our readers to the most recent Bitcoin prediction. As a reader, you will learn how Bitcoin blew up price actions and the price charts.
Five years ago, Needham & Co, a research firm, felt Bitcoin would hit $2,231 by 2020. Back then, Bitcoin traded around $600. By July 2020, it was doing $11,000. It had done $25,000 by December. And presently, it is trading at six digits.
Although digital assets are prone to extreme volatility, Bitcoin has proved over time why it is worth a second look for investment and portfolio diversification. Now, the recent flash crash of Bitcoin has sent people into a FOMO frenzy. But that is nothing, looking at how Bitcoin rallied over the years with its price movements. That should even be the reason why you should jump in right now.
This article will show you three predictions for Bitcoin and tell you why it is still early, never too late, to invest in Bitcoin.
An Upgrade For Bitcoin Called Taproot Will Drive Sweeping Innovations
This is true now. Most of us who had transacted Bitcoin could be frustrated with sluggish transactions. Even the climate watchmen are clamping hard because the Bitcoin transaction gulps a lot of energy from its mining activity. A solution is around the corner. And we believe this could cause widespread adoption more than ever.
While the underlying functionalities of Bitcoin are not expected to change anytime soon, the idea is that the functions are being optimized every time. This way, Bitcoin transactions become faster and practical, to the point that it leaves traditional currencies in the dust. The coming upgrade will address this goal.
This upgrade will streamline the way transactions are processed, making them instant and energy-efficient. The upgrade features Schnorr signatures. This protocol enables Bitcoin transactions to be secure and inexpensive. This upgrade combines other signatures to make it easier and convenient to verify transactions on the vast network.
The Taproot upgrade will result in incredible transaction speeds and a safer transaction environment. This upgrade is believed to attract disruptive applications that people can use on the network.
Apart from handling innovation, the upgrade will set the pace for future applications in the Bitcoin protocol, specifically intelligent contracts. When Bitcoin transactions are widespread, transactions will increase.
$700,000 Bitcoin Price prediction from Cathie Wood
Cathie Wood mapped out four remarkable factors that could increase Bitcoin prices.
- She thinks Bitcoin might be used as a settlement gateway for financial institutions and businesses.
- Bitcoin is a haven for wealth protection from inflation and illegal seizure.
- Bitcoin is a better substitute for gold, a sentiment shared by the Bitcoin community.
- Bitcoin could offer emerging nations an alternative for legal tender that is stable.
Bitcoin Expected To Rally $150,000, Which Is 200% Gains For Holders In 2022
It is believed that Bitcoin will rally to significant price actions next year. Regardless of the FUD that recently caused Bitcoin’s flash crash, Bitcoin will become widespread by 2022. This means that the digital asset will be spot pegged where a fund like an ETF will own a bitcoin. When this happens, the ETF will drive up BTC prices remarkably. No one should freak out yet because of Bitcoin’s price tag, especially those looking to consolidate for capital gains. Prices will reach $150,000 next year, at least.
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