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RE: Musing Posts

in #musing-threads6 years ago

The future price of Bitcoin is hard to estimate since right now it's nearing a tipping point. Depending on how many new people become involved in the crpyto-space, Bitcoin could go on to become worth 100,000 each or $10 each. If more people jump on the cryptocurrency bandwagen and start learning about them, most would put large investments into cryptocurrencies other then Bitcoin, such as Steem or Ethos, because of the larger opportunity to grow. Bitcoin is nothing special, just the first cryptocurrency, and that's what's kept the price up. If we remain at a low number of new cryptocurrency users, the investors that aren't focused in crypto will most likely invest in Bitcoin since it's large, established, and looks like, from the outside, it has potential to grow.

My best guess would be if more people learn about cryptocurrencies, they will become less dependant on BTC and the price will drop. If we remain at a constant rate of new crypto users or drop in new users, people will want to invest in BTC and it will rise.