The Future of Bitcoin. Should you still Hodl?

The future of Bitcoin is super-affirmative.

Introduction

The Inception of Bitcoin in the year 2009, marked one of the most puzzling inventions of mankind. Satoshi Nakamoto, who is the assumed inventor of Bitcoin is one of the richest cryptocurrency enthusiasts and holds almost billion dollars worth of Bitcoins, but is anonymous. The revelation of Nakamoto’s identity would remain the fantasies of a dream, but it would be like untangling one of the most mysterious personalities of the Cryptoverse. How can the inventor of such a revolutionary Technology, stop himself from his identity revealed, when he knows that popularity would be at his feet on doing so. Nevertheless, Nakamoto has confirmed his identity revelation through an autobiography in future.

Bitcoin security is its backbone

On very fundamental grounds, the Bitcoin network is highly robust and Secure. One must understand that there have been many instances of cryptocurrency exchanges along with the wallet providers getting hacked and indirectly resulting in the loss of Bitcoins. However, the Bitcoin network itself has never been hacked until now, for nine consecutive years since 2009, and this is one of the greatest Fiat achieved with respect to the other cryptocurrencies. The effective security is through its Proof of Work consensus mechanism, which creates an effective store of value. The high amount of computation power keeps the hackers away, as they need to gain control over at least 51% of it, which is highly impossible. Subsequently, even the future of Bitcoin would be highly secure as more number of users would join the network.

The future of Bitcoin is secure through the Bitcoin Futures

Recently, the Chicago based CME and CBOE have accessed the rights to trade Bitcoin Futures. Technically anyone could freeze the price of Bitcoin and trade it later in the future. This would steeply accelerate the Bitcoin usage as they would provide high volumes of liquidity within the Crypto market and in turn, stabilizing them. The future of Bitcoin would be futuristic as more advancements push the acceptance of Bitcoin at its peak. Also, the Futures are to be initiated for other major Altcoins in the market. This would pour enough liquidity in the cryptocurrency market and intern stabilizing it.

The Future of Bitcoin through the vision of prominent experts

Even many of the predictions are on the positive side of the spectrum, with respect to Bitcoin, by the professionals of the Cryptoverse. According to Thomas Lee, the founder of the Fundstrat global, predicts that the price of Bitcoin by the end of 2018 would reach the $25, 000 levels. According to the former computer antivirus software company owner, turned cryptocurrency enthusiast, John McAfee predicts that the Bitcoin price would reach $1 million. Even the Winklevoss twins are highly optimistic about the future of Bitcoin and predict that on a long-term basis the Bitcoin prices are highly undervalued and must reach $320,000 mark. Such predictions by the prominent figures in the industry must not be taken lightly and hence one must not hesitate for Bitcoin investments.

Bitcoin is an effective store of value

The Bitcoin cryptocurrency was inherently developed as an effective store of value, but when we shed some light upon other Altcoins we do not find any single cryptocurrency, which was fundamentally developed for it to be used as a global currency and an effective store of value, but was pre-eminently designed for its usage or incentivize the other sub-categories in the financial field. Bitcoin also has the first movers advantage and the Altcoins can never replace Bitcoin in terms of popularity. Therefore the future of Bitcoin can be seen only with a positive slope.

Should you Hodl Bitcoins?

I think the above-mentioned hypotheses would invariably act as a promoter in the future of Bitcoin. There is not even a single reason that one can quote to shrug their shoulders at the most technological innovation of the decade. The investors, as well as the individual users, are highly recommended to Hodl there Bitcoin funds, As further development is expected. Also, the extensive research and development would undoubtedly result in the development of Bitcoin.

Disclaimer

When it comes to the losses in the cryptocurrency domain with respect to the investments, it is 90% Investor’s fault, as they were incapable enough to undertake an extensive research and background check on the project. This article is not, in any form, an investment advise and is purely the opinion of the author. You are required to do your own research and analysis before investing.