What is Cryptocurrency?
Cryptocurrency continues to grow in the upcoming years. This digital currency has gained huge acceptance in the global market due to its high gains, transparency, and decentralization. One of the best things about cryptocurrency is that it is not managed by the middle man or government body.
It is the first decentralized peer to peer payment network. That means nobody manages or controls the cryptocurrency transactions. It is managed and controlled by the cryptocurrency users across the world via the internet.
The success of cryptocurrency is spectacular. The large companies of this globe are now saying cryptocurrency is the valuable currency of the future. According to finance experts, the world is now becoming stable and mature. The global marketing condition is improving, and digital currency is now more widely adopted for several reasons.
Cryptocurrency Means Bitcoin
In the year 2009 Bitcoin was the first cryptocurrency that launched. The technology that supports bitcoin is blockchain. Since then, many different digital currencies have been introduced, but no one can beat the acceptance of Bitcoin in the global market. Bitcoin users can exchange the values without taking the help of the intermediaries.
Compared to other cryptocurrencies, it is faster, cheaper and more secure. Bitcoin, electronic currency is one of the valuable reasons behind the popularity of cryptocurrency. Because it is decentralized, used for online shopping, book hotels, and investment anonymously. Many investors buy bitcoins as an investment and also gain a high return from the value effectively.
Future of Cryptocurrency
In a real note, no expert can predict the future of cryptocurrency, but if we could, we would become billionaires. However, the crypto market is one of the volatile markets of the globe. The ups and downs of the value of the coins always forcedness to think whether to invest money in the digital currency or not. But, the high gains encourage us to invest.
Compared to the traditional market predicting the value of the coins is tough. When considering the future of the cryptocurrency, it is good to look at the real-world events. One of the significant benefits you will get if you choose to invest in cryptocurrency over a traditional market is that you will get an opportunity to perform your own research and make investment decisions. It is advisable not to buy the cryptocurrency because your favorite Youtuber has told you. Take the help of the Robo advisory trading platform, which gives you a clear insight of the market.
Bitcoin Price Prediction in 2020
The CEO of popular antivirus system McAfee, John, has made crazy bitcoin prices on twitter recently. He said Bitcoin in 2020 would reach $500,00. Well, he is well-known in the cryptocurrency industry because he got the cryptocurrency project $100,000. People are more likely to believe in his prediction. He also said that the price of the Bitcoin will aggravatingly increase and can reach up to $1 billion by 2020.
John, the CEO of McAfee, has claimed that he made a prediction on the basis of his own price model. In the event, if his prediction gets true, he will make $1.5 trillion by 2020.
If we look at the previous John prediction on the cryptocurrency, in 2017 he predicted that Bitcoin would need to increase its value from $4,900 to $20,000. Interestingly, in 2017 the price of bitcoins increased by more than $2,000. We don’t know what will happen in 2020.
Tom Lee does the next bitcoin prediction. This man works for a cryptocurrency research organization and he is popular for bitcoin prediction. He believes that by 2020 the bitcoin will be valued $91,000. And this prediction he has done by doing chart analysis. He often makes future predictions based on historical price movements. Fortunately, his predictions are always proven true.
The last Bitcoin value prediction of 2020 that i needed to talk about is by the CEO of Brave New Coin, a cryptocurrency research organization. In this Bitcoin prediction, Fran Stranjar accepts that it’s cost will arrive at new highs of $20,000 by 2020.
Starjan has contended that selection rates are increasing because more and more people are showing interest in the digital currency and downloading electronic wallets. This is a decent contention on the grounds that as more people are purchasing and use bitcoin, and this all increasing the value of the bitcoins.
It has been more than 9 years since the cryptocurrency was launched. Here timing is everything. If you purchase bitcoin in the beginning of 2020 and sell it at the end of 2020 it surely gives you a better return of the investment if you make investment process in the right manner. You can also take the help of the Crypto software app for market research and analysis.