Bitcoin is now closer to $100,000 than to $0. Crypto experts strongly advocate in favor of Bitcoin, saying that it’s not a bubble. While prominent individuals like Micheal Burry say that Bitcoin is a bubble that might crack anytime, many believe that the cryptocurrency will soon touch $100,000. Just yesterday, I wrote an article about analysts predicting that Bitcoin might reach $250,000 in the next 3 years. At the same time, analysts said that Bitcoin might be valued at $500,000 by the end of this decade and eventually reach $1 million. All in all, most individuals strongly believe in cryptocurrency, and it seems that this might be one of the biggest wealth creation opportunities in history.
Bitcoin rise in price and credibility!
With names like Apple and Tesla getting associated with the currency, the value and credibility of the cryptocurrency have increased hand in hand. I believe it all started when the news of Tesla’s $1.5 billion investment came out. It not only resulted in a huge price increase in the currency but also installed faith in the mind of retail investors. At the same time, banks and companies have also started allowing transactions using Bitcoin. Just see Apple! It was banning cryptocurrency apps from its Appstore a few years back, and now it’s integrated into Apple Pay.
At the same time, the biggest payment method companies Visa and Mastercard, are also going to integrate Bitcoin. These companies have already announced that the option to transact with crypto will be available by the end of 2021. This means that Bitcoin owners and investors can pay with the same to millions of merchants globally. This will be one of the biggest steps for the widescale acceptance of cryptocurrency. At the same time, more consumer-based payment methods like Samsung and Google pay will add Bitcoin support very soon.
Crypto in India!
Initially, a ban on cryptocurrency by the Indian government was being speculated. But now, it seems that instead of banning cryptocurrency, India might impose a tax on its trading. But we can’t be sure. However, it won’t be right for the Indian government to stop Indians from partaking in one of the biggest wealth creation opportunities in history. Even a few years back, the government of India banned Bitcoin. And the ban was later lifted by the supreme court of India. This time around, the government said that even if a ban takes place, it will give 3-6 months to investors to sell the Bitcoins they are holding.
Do you think that Bitcoin has the potential to reach $100,000, $250,000, $500,000, and eventually $1 million? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.