You have probably heard constantly most of 2020 and 2021 that Bitcoin (BTC) or another cryptocurrency is the future. Most of the time in the financial world the rule of thumb is if you just heard about an investment opportunity, it’s already too late to invest. This is simply not the case with Bitcoin; a lot of investment advisor predict that Bitcoin could break $100,000 before the end of this year. Currently, it is fluctuating between $55,000 and $60,000 as of March 19th, 2021. This along with the daily news cycle of the crypto, you can see that the estimated increase in value to $100,000 is not unlikely as Bitcoin continues the exponential increase in popularity and acceptance by physical businesses.
The point is even if you get in at a low value on BTC right now, there is still the chance that it doubles in value before the end of the year. Currently, there is not major financial institution that deals in BTC, but experts are predicting this won’t be the case for much longer. As the financial and banking world begin to allow customers using BTC to bank with them, you will see a sharp rise in value of Bitcoin.
On February 12, 2021 it was reported that JP Morgan and Goldman Sachs were close to allowing customers use Bitcoin as payment. As a result, the value of BTC increased a little but then fell back down. This increase only happened because of the prospect that major financial companies were close to accepting BTC, can you imagine how the value will increase when it is accepted by multiple big time financial players? This gets other users who were not involved with BTC involved now which will drive the value up.
At the end of the day, other cryptocurrencies not just Bitcoin fluctuate in value based on how many users are involved in it at that moment in time. If millions of people are using it, then the value will go up. If the big boys in the financial world step up and not only trade it but use it as regular payment, the valuation of Bitcoin will skyrocket. This is a situation that cryptocurrency experts are discussing, what happens when BTC becomes accepted like physical currency?