Bitcoin Gambling Blog

Will Bitcoin Ever Recover?

The short answer to this question is… most definitely! Based on current exchange rates, Bitcoin is expected to rise to $341,000 by 2025, and $397,000 by 2030. This is a massive indicator for positive growth potential and overall  future success of Bitcoin. Here's everything you need to know to invest in the cryptocurrency moving into 2021 and what the future holds for the world famous crypto coin.

November 15, 2018, bitcoin's market capitalization fell below $100 billion for the first time since October 2017 and the price of bitcoin fell to $5,500 which by any measure was the lowest its ever fallen down to.

For a little more context on this, at its 2017 peak, each bitcoin was worth $20,000… This means that if you purchased 100 BTC back in 2011, your €25 investment would be worth a cool €17 million just six years later.

2020 has been a year of recovery, with BTC starting the year valued at around €3,200 per coin and ending it at a price of approximately €7,100. This means that the coin, by and large, is starting to recover and that the future is looking promising for Bitcoin as we know it.

Indeed, the recent upturn has made bitcoin the best-performing asset of 2019, with more than 100% growth dwarfing that of any instrument listed on the Nasdaq 100, the S&P 500 and any other exchange where highly cherished assets are listed.

The current Bitcoin trading price stands at €9116, and as we draw to the end of 2020, it’s been recorded that there are now almost 800,000 digital wallets in the Bitcoin network, with a balance of at least 1 BTC (€9061) per wallet.

The bottom line is that Bitcoin has recovered and continues to thrive (for the foreseeable future at least)  and is looking promising in the years to come.

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China is driving the 2021 value of Bitcoin

China is now trading in cryptocurrencies, including Bitcoin, which has been a major leap forward for the global crypto market. Although some entities remain wary to openly trade, China is fast becoming a trading powerhouse and continues to open its doors to the rest of the world.

China is bullish on blockchain technology, and this has become a positive force in the world of cryptocurrencies and bitcoin mining.

The Chinese president, Xi Jinping, has been quoted as saying that “we [China] must take the blockchain as an important breakthrough for independent innovation of core technologies.

“[We must] clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.”

Will Bitcoin thrive in 2021?

The newly launched Lightning Network, an infrastructure upgrade that speeds up online bitcoin transfers aims to rectify the main stumbling block that prevents the currency from becoming a mainstream hit.

The Lightning Networks core focus is to add a layer on top of the blockchain, freeing up resources for transactions to be completed in the quickest time possible. This in turn means that the world is catching on to the benefits of paying with Bitcoin and paying for your daily coffee or a Big Mac, has now become a reality.

The adoption of bitcoin and crypto as a whole in retail environments is one of the walls that tech experts have now officially broken down. 

aIf the average consumer can spend their BTC in their local shops as quickly as they can with credit/debit cards and e-wallets, the global adoption of Bitcoin is well on its way to becoming the future of fintech.

What should you do now?

The decision you take on whether to hold your bitcoin wallet, sell it or use it to fund a purchase elsewhere will depend upon your personal circumstances – we’re not able to tell you what to do.

However, looking at all of the signs that we have outlined in this article, you can probably see that the future does look set to be positive for BTC.

If you hold your bitcoin for the next 18 months or so, you may well find that your asset has appreciated in value.