At the beginning of the year 2018, even my mum and my hairdresser were talking about bitcoin and how to make money to get rich over night.
As prices suddenly went down and media almost stopped writing about bitcoin and crypto in general, people I know also stopped talking about it.
But what happened afterwards?
Prices are on the rise again. It seems that bitcoin has overcome the recent downtrend.
This has to do with a couple of things I would like to mention:
- Banks open bitcoin trading operations
https://www.nytimes.com/2018/05/02/technology/bitcoin-goldman-sachs.html - Banks use advantages of blockchain technology
https://www.santander.com/csgs/Satellite?appID=santander.wc.CFWCSancomQP01&c=GSNoticia&canal=CSCORP& cid=1278712674240&empr=CFWCSancomQP01&leng=en_GB&pagename=CFWCSancomQP01%2FGSNoticia%2FCFQP01_GSNoticiaDetalleMultimedia_PT18 - New and easy payment possibilities
https://www.tenx.tech/ - Bitcoin cannot be inflated
Bitcoin has a limited supply of abround 21 million. Unlike a fiat currency such as US Dollar, the supply cannot get bigger. https://en.bitcoin.it/wiki/Controlled_supply - Growing Bitcoin demand
https://news.bitcoin.com/bitcoin-numbers-21-statistics-reveal-growing-demand-cryptocurrency/bitcoin-currency-volume/
In my opinion, these are only five reasons that support an increasing Bitcoin price. I cannot tell what price we will see at the end of 2018, but I strongly believe that we see higher prices than today.
By that time, even my mum and my hairdresser will talk about bitcoin again.