By Nimol Rajan
This week, the price of Bitcoin fell below $9,000, and a lot of new investors got scared. Those who have been around the cryptocurrency block, however, are taking the recent plunge in price as a positive thing.
So why is this?
The drop in the price of Bitcoin doesn’t mean that Bitcoin is going away anytime soon, or that it’s not worth investing in at all. The price of Bitcoin has always been volatile, and it will likely fluctuate in the future too.
Here are some reasons why Bitcoin is likely to rise in price in the future.
The Lightning Network
The Lightning Network is a way to move Bitcoin around quickly, and it’s becoming a popular option for new users. The technology is still in development, and it’s hard to tell how many people will actually use it.
However, it does give Bitcoin users a way to move their coins quickly and cheaply, and it also encourages more people to use the technology.
The Bitcoin Supply is Limited
Bitcoin is a limited resource. This is an important aspect of why some people invest in the currency. There are only 21 million Bitcoins, and the total supply of the currency is likely to rise to 21 million by the year 2140.
The limited supply of Bitcoin is an attractive feature to many investors, even though it’s a long-term investment.
Countries Are Adopting Bitcoin
Countries like Japan and South Korea have already started adopting Bitcoin as a form of currency. These countries have a lot of Bitcoin users, and they have started to integrate the currency into the mainstream.
There are also companies like Expedia that have started accepting Bitcoin as a form of payment.
More countries are likely to adopt Bitcoin as a form of currency in the future.
The Marketing of Bitcoin is in Overdrive
Bitcoin is in the news a lot these days, and the mainstream media is still pushing it in ways that they never have before. The price of Bitcoin may have been falling recently, but that’s only because its price has risen so much over the past year.
The marketing of Bitcoin is in overdrive, and it’s likely to continue into the future, which means that the price of Bitcoin is not likely to fall too far.
Bitcoin Has Grown Faster Than Anyone Expected
At the start of 2017, no one was predicting that the price of Bitcoin would rise to $19,000 in just one year.
Bitcoin has already achieved a lot in a relatively short amount of time. The currency has grown faster than anyone could have predicted. It’s likely to continue growing in the future.
The Bitcoin Economy is Still Growing
Although the price of Bitcoin has dropped, the total Bitcoin economy is still growing.
The total number of Bitcoin users is still increasing, and the total amount of money being transferred using Bitcoin is still increasing.
These numbers are likely to continue growing, and the price of Bitcoin is likely to rise in the future.
Bitcoin is Still a Good Store of Value
Bitcoin is a good way to store money safely. It’s not backed by a government, and it’s not connected to anything real. But it’s still a great way to store money safely, and it’s still a good way to invest.
So while the price of Bitcoin may have been falling recently, there are still plenty of reasons to invest in it. The currency is still growing, and it’s still a good way to store money.
As long as you invest in Bitcoin safely and you continue to store your Bitcoin in cold storage, you can hold on to it and wait for the price to rise again.