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Bitcoin Expert Says It Could One Day Be Worth $100,000
Bitcoin is a brilliant invention that allows people to transact money without having to trust each other. But it's also a digital currency, which means it doesn't have any intrinsic value. It's only worth what people are willing to pay for it.
That's why Bitcoin is so volatile. The value of the coin can change by thousands of dollars overnight, sometimes in ways that make no sense at all.
Bitcoin has some inherent benefits compared to traditional currencies, but it still depends on the same thing: price discovery.
Bitcoin might be worth more than $100,000 by 2022. The cryptocurrency is currently trading at $6,000 a coin, but it could reach $100,000 in the future if everything goes according to plan.
Bitcoin is currently trading at around $6,000 a coin, but experts say the cryptocurrency could go much higher than that in the future.
"We have seen bitcoin hit highs of over 20K per coin. We think it's possible for bitcoin to hit 100K as well," BK Capital Management CEO Brad Katsuyama said at the Global Blockchain Forum conference on Tuesday. "I would say we're not there yet."
He added that he believes it's possible for bitcoin to hit $100,000 by 2022. However, he noted that there are several factors that could delay its rise.
Volatility is a common term in cryptocurrency and can be confusing to understand. If someone tells you that they are "making money," they may not mean that they are buying or selling at the right time. In fact, there are many ways to make money in the market when it comes to trading cryptocurrencies. The volatility of the market is what makes it exciting, but also what can make it dangerous.
If volatility were lower, then Bitcoin would not be at its current price point. That being said, it's important to note that volatility does not necessarily indicate whether or not a currency will gain or lose value over time. It simply means how much the price changes from one day to another.
For example, if Bitcoin was trading for $10,000 and then dropped to $8,000 in one day, that would be considered high volatility. This could happen because there was some news or event that caused people to panic about selling their coins. However,
The bitcoin price is likely to rise to $100,000 by 2022, according to a recent report from two prominent Wall Street analysts.
In the report, published by Goldman Sachs and JP Morgan on Friday, there's a major focus on how cryptocurrencies like bitcoin can become an alternative to fiat currencies.
Bitcoin has been around since 2009 when it was created by Satoshi Nakamoto as an open-source digital currency that could be used to buy everything from pizza to plane tickets. Over the years, it has become more widely accepted as a form of payment for goods and services, but it's still not widely used outside of tech-savvy communities.
The report suggests that this will change over time in favor of cryptocurrencies like bitcoin. The report cites three factors that are driving this change: technology, adoption, and regulation.
Technology: Bitcoin isn't going anywhere any time soon because its underlying technology — blockchain — is too popular for companies to ignore it entirely. Blockchain is essentially a distributed ledger system that allows people to transfer money without the need for financial institutions or third parties like banks or credit card companies. In essence, blockchain makes it easier for people to transact with each other online without having to rely on centralized institutions such as banks or governments
Bitcoin has experienced many ups and downs over the past few years, but it's still here, still holding on.
The price of Bitcoin is up more than 1,000% since early 2015 when it was trading below $1,000 per coin. And things are about to get even better for cryptocurrency investors: according to CoinDesk's 2018 State of Blockchain report, "more than half of the world's largest ICOs are planned for November and December of this year."
It's not just Bitcoin that's doing well; other cryptocurrencies have also seen a huge spike in price over the past year or so. Ethereum is up more than 2,200% over the past 12 months — it was trading at around $10 per Ether in February 2018 — while Litecoin has increased by nearly 1,400%.
The cryptocurrency market is only in its very early stages of adoption. So far, there are just over 1,000 cryptocurrencies and about $19 billion in total market cap. However, this number is expected to grow over the next few years as more people become familiar with cryptocurrencies and their potential use cases.
In addition to being a medium of exchange, many people believe cryptocurrencies will also be used as an alternative store of value. That’s because they’re not subject to inflation or interest rate changes like traditional currencies are.
Because of this, it’s possible that the price of Bitcoin could reach $100,000 by 2022 — or even sooner if the market continues growing at its current pace.
Bitcoin is up more than 400% this year and the cryptocurrency market is worth over $180 billion. But what does that mean for investors?
Bitcoin's price has been soaring for years now, but it's still not clear if the cryptocurrency will continue its ascent. While many analysts believe Bitcoin will hit $1 million by 2022 — even though it could be much sooner — others are skeptical.
This week, some Wall Street analysts predicted that Bitcoin could fall as low as $100,000 by 2022. And while they may be right or wrong about Bitcoin's price, there are still plenty of things to consider before making a big bet.
As cryptocurrencies continue to gain popularity and attention, they are also becoming more mainstream—and hence, more accepted—as a form of payment. Experts predict that the market could undergo a major expansion in the coming years. If bitcoin’s increasing recognition persists, this could have a big impact on its price over the next several years.