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The Future of Bitcoin: Why BTC Might Be Heading for the Moon

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After a disastrous 2018, the current year seems to be a much kinder one towards crypto prices. Bitcoin (BTC) is once again a hot topic, and thousands of new accounts are joining its networks. Not to mention that the coin has managed to grow quite a lot in the past several months. However, there are many out there, in the crypto industry, who believe that this is only the beginning — an early stage of a massive boost that has yet to come and launch Bitcoin’s price to the moon.

These are the people known as Bitcoin bulls, and they have many reasons to believe that BTC is only getting started.

Why is Bitcoin more valuable than it might seem

One of the reasons why BTC might reach a far bigger price than the one it currently sees is the fact that it had done it before. There is hardly a need to remind anyone that the coin had a price of $20,000 per unit less than a year and a half ago. While the surge was sudden, hype-driven and the following correction caused the entire year-long crypto winter, it displayed some of Bitcoin’s potential. And, if the coin managed to do it once — it can certainly do it again.

Next, it is important to note that Bitcoin is still the leading currency in pretty much every aspect. It has the largest market cap, as well as the highest price. It has a limited total supply, which is rather low, thus guaranteeing that the coin must have a high value, provided that it turns out to be useful. And, as luck would have it, Bitcoin has countless use cases, only a handful of which are currently being applied.

Of course, the coin does have its fair share of problems as well. Bad reputation due to its use on the dark web several years ago still follows it. However, Bitcoin is a tool — one that anyone can use. The fact that it was used by criminals, and potentially, terrorists, should not be viewed as a damning factor. It was not made to be used by these people, but it is universally available, just like any other form of money.

Bitcoin is also still struggling with scalability, although this issue is well on its way of getting fixed with the Lightning Network project. All that will remain after that is mass adoption, and this is a gradual process that will speed up tremendously after the crypto sector receives proper regulations.

This is a coin brimming with potential, and one of its major uses in the future might be the replacement of gold. Unlike gold, we know exactly how much Bitcoin there can ever be. It can be just as universal, much more valuable, but also easier to manage and distribute. It is more effective, more practical, and more available. It is also extremely modern, the next step in the financial evolution of the entire world.

Conclusion

Moving towards digital money is a big step; there is no denying it. It is the biggest step since replacing material assets with paper money, and even that is a corporeal currency, with which we were able to familiarize ourselves with more ease. BTC, and cryptocurrencies in general, are more complicated as a concept, but a much better way of managing funds once you understand how they work and what they truly are.

Because of this, Bitcoin literally remains digital gold — only one whose true value and potential have yet to be discovered.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Stepping off the rollercoaster: Why I’ve fallen out of love with Bitcoin

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The very word Bitcoin has almost become synonymous with that of cryptocurrency. It’s basically just a medium of conducting digital transactions – it’s a virtual currency and one of many. So how has it taken on a definition of its own and asserted itself as a leader in the digital financial ecosystem?

Bitcoin has been crowned king of altcoins, probably because it was one of the earliest and most successful of its kind. The trendsetter has ushered in a wave of cryptocurrencies built on decentralised P2P networks and has inspired a growing number of followers and spinoffs. But is Bitcoin struggling to keep up with the newcomers who have made considerable developments to the stability, security, and usability of the crypto world?

The supporting case for Bitcoin has been a clear one. Its pioneering infrastructure has situated it in a position of dominance in the altcoin realm. Bitcoin has a proven usage case as a store of value. Having existed over 8 years without failure, it has a large lead over most altcoins and has withstood the test of time as younger counterparts join the market. However, it seems to be on a downward slope, or at the very least, not progressing at the speed of the market.

In May this…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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