Bitcoin is easily the godfather of all cryptocurrencies. Created in 2008, bitcoin rose from a humble value of less than a dollar to it’s all-time high of over $66000 in the last week of October. This journey from rags to riches quite literally has been a rollercoaster ride, but what more does bitcoin have in store for us?
Bitcoin: The Faceless Miracle.
Bitcoin was created by an anonymous source with the pseudonym of Satoshi Nakamoto. This was, at the time one of the first of its kind. It featured a peer to peer type of transaction, did not have any physical form and was very limited in number.
Bitcoin was created due to the 2008-2009 financial crisis, during which all banks failed and taxpayers money went to waste. Bitcoin was created in a format that made the currency overcomes all major challenges any physical form of currency faces, such as:
- Safety: Difficult to counterfeit, theft or hackproof as it is “cryptographic”
- High returns: As it is limited in number.
- Impossible to double spend.
- It was decentralized, i.e; it did not have any central authority to govern its value and/or transactions.
Is bitcoin a good investment?
The answer to that question is never black and white or as simple as a yes and no; But, bitcoin has made people billionaires overnight.
The most honest answer would be that bitcoin, like any other cryptocurrency, is a risky investment with incredibly high returns and equally high losses; all a factor by chance of the market.
Should I invest in Bitcoin?
You can invest in bitcoin only after you fully educate yourself on the ways of cryptocurrencies; that is bitcoin shows extreme growth and losses almost overnight.
Also being an extremely volatile asset, someday it might end up at nothing all over again or it might overtake all currencies and establish itself as a super currency in itself in the future.
In today’s scenario, bitcoin is a mildly risky, long term investment that promises great returns over the next 5-10 years if the market continues to thrive the way it does right now.
What are the predictions for bitcoin in 2025?
Bitcoin, according to a panel of over 50 cryptocurrency experts, is all set to hit the value of $2.49 million by the year 2025. This prediction is backed by multiple sources such as Forbes, crypto news, coinmarketcap and many more such cryptocurrency market analysts.
This predictive value also varies, as according to standard chartered analysts, bitcoin is said to reach the value of $3.6 million by the year 2025.
This value was derived after using multiple statistical methods to study the growth chart of the past of the coin to predict its future: in the simplest terms, some serious nerd stuff.
In conclusion, anyone that invests in bitcoin right now is all set to be a millionaire in the next 5 years and that’s on crypto growth.