In the last few months, there have been extreme volatilities in Bitcoin’s value, leading to the debate whether it will go to zero in the future? So what is the future of cryptocurrency? Bitcoin is the original cryptocurrency whose price climbs from zero to as high as $60,000 in just one decade. It is one of the world’s largest cryptocurrencies used worldwide. Now, its lifespan has become one of the main questions for people.
Despite the growth of Bitcoin, people are arguing that with time it may collapse and come back to zero. So, what would happen to Bitcoin in the coming decade? Will it go down to zero? Here, you will see the things discussed related to the future of Bitcoin or Cryptocurrency.
Can it go to zero?
Currently, this is one of the main questions that every investor has in their mind. It should be because who wants to invest in something that will go down after some point. Will you invest in something whose value will decrease in the future? Of course not! They want to know whether Bitcoin will be like the South Sea Bubble or Tech Bubble, which may see value destruction but have enormous potential later.
However, the price of Digital currency is fluctuating now, but it will not become a problem shortly. Here are some of the reasons that will be explained to you in detail.
Bitcoin has crashed before, also.
It is not the first time that Bitcoin has crashed or the value has become low. Just because it is not, that does not mean its value will turn to zero in the future. It may not be the last time it will be crashed; maybe you will also find yourself in that situation in the future. If you check the record for the previous seven years, you will know that it has gone up and down several times.
The best part about all these things is that whenever the value of the Bitcoin goes down, it emerges as stronger and higher. That is why there are chances that this time when Bitcoin occurs, it will be stronger and much higher than you expect. But the rest of that depends on the future and the other unpredictable conditions.
Blockchain technology is robust.
It does not matter which cryptocurrency you invest in; everyone is based on blockchain technology. Blockchain technology is one of the most reliable and foolproof technologies. The main reason to use Bitcoin is to take away the fiat-based printing currencies so that people will start using digital currency instead of fiat money.
It is safe as if any information is entered in the Blockchain; then it will be distributed so that addition will be done through a documented process. Even if something is added to the Blockchain, it will be there for your whole life. It will create the audit trail, and that is why how it will be regulated in the future then it will remain to be seen.
May emerge as the digital alternative to the gold.
Do you know why gold has been preferred more for several years? There are multiple reasons for that, and the main reasons are that it is the unique and indestructible metal mined in the world and exists. It is not a portfolio asset; it is excellent if you will store it. The last reason is that the supply is limited, and not much gold can be produced. Now compare these things with the characteristics of Bitcoin. Isn’t all these are same? It is!!
Bitcoin also has an unbeatable database, so all Bitcoins still exist, but the supply is limited because of the audit trail. Nevertheless, there have been so many positive returns which you have got because of its store of value. But the only difference is that Bitcoins are a lot easier to store or transfer than gold. So you can say that Bitcoin is digital gold.
Autonomous as well as rare currency
Bitcoins are a currency that no one owns and that is powerful on its own because of its decentralized network. It is based on the set of rules and regulations along with the audit trail. It is autonomous as it does not have a central bank’s influence on the total amount of Bitcoin. It is not easy for the person to get as compared to gold, which is why it is rare.
So, it can be said from the article that the Future of Crypto is not going to be zero in the next decade; it is the currency whose time has come! It is all just a prediction because the future is still uncertain and who knows what will happen!