Bitcoin is a volatile currency, and it did not disappoint in this department in 2024. Everyone who invested in this digital currency had a fun ride. Even we who only watched it from the sidelines were excited with everything that went around. Only a month ago, people were trading this asset at prices over $20.000. This wouldn’t be a massive surprise if only less than a year ago, it was trending at around $4.000. For anyone who was buying and selling it during the span of one year, it could have brought massive winnings but also massive losses. For us who weren’t invested financially, it was a sight to behold.
Because of what happened last year, everyone wondered what the future holds for the world’s most fascinating currency. Despite all the flaws, 2024 was one of the best years for BTC, and it keeps trending upwards. It matured in a way after a decade of it being available for trading passed. We are expecting big things in the coming months, and we’re going to discuss what we think it’s going to happen during this year. Let’s see our predictions for what does the future hold for Bitcoin investors in 2024.
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Going Mainstream
Bitcoin is becoming accepted widely in recent years, but not at a rate you would expect. After all, there’s still a lot of mystery surrounding it, and there are plenty of people still doubting its mere existence and not anything else. Not everyone is prepared to accept it with open arms, despite receiving mainstream recognition. But, in 2024, it made a significant breakthrough. Many influential companies gave it the green light, and people noticed this. For example, Square invested more than $50 million in BTC. This is a clear sign it has backing. Furthermore, PayPal allowed buying and selling BTC on their platform. If you were looking for a stamp of approval, this is it.
It is expected that even more companies are going publicly after Bitcoin, which will make more individual investors follow suit. The ones expected to make significant moves that will shake the financial market as we know it is the banks. Some of them will likely create a system that will allow the BTC to flow through them. So far, no bank is holding assets in BTC for their clients. When this changes, you can expect to see investors flocking into deals, including this digital currency.
It Will be Tested
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It’s not easy for investors to follow everything that’s happening regarding BTC. It will be even more challenging in the future as we expect that big tech companies will try and compete. BTC has been around for a decade now, and no other crypt came close. It is a cause of envy for many people worldwide, and someone powerful will try to enter the market with a rivaling virtual currency. The investors who are first to notice this happening and invest early, backing it or going against it, could be rather fortunate.
Companies that work with finances offer various payment methods to clients see the digital currency market as the one where there is space to maneuver. Digital currency markets have potential, and someone will go and try to take advantage of it. The transactional market of today has many flaws, hefty fees being the one that causes most issues for clients.
Those who experienced BTC know that things can go smoother and be cheaper. A company that makes this bridge will be the one BTC investors will ant to follow closely. BTC doesn’t reach some of the major companies such as Facebook and Google have, but being mentioned in the same sentence is something. These two companies are trending towards digital currencies for some time now. If they step in with something substantial, the BTC market could suffer for better or worse. Something that investors need to be aware of. At the moment, FB offers Diem as their currency. It’s nothing big now, but if it continues to grow, BTC investors might switch allegiance.
Watching out for Banks
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This is an excellent time to be a digital currency. There’s a survey that claims almost every central bank in the world is trying to form a digital currency. The banks feel that something is evading their hands and that they’re not making profits in the market, thriving. When it comes to the nations involved, as one could expect, China is making giant waves in this department, and the eyes of all investors are focus on this Asian country. They’re conducting various experiments to see how people are reacting to digital currencies. More than one hundred thousand lottery players received 200 renminbi as a reward in the city of Suzhou. This digital currency was wired to their bank accounts. They had a week to spend it, or it would disappear. It was a great experiment to make people value and, above all, spend virtual currency.
This way, China is trying to compete with BTC and other digital currencies. It is known that this country is already trying to digitize its money, which would create massive competition to BTC. If this happens in a country with over a billion inhabitants, the value of BTC could be shaken. A thing for all investors to watch in 2024.
Continued Volatility
A thing that would probably never change. BTC is volatile, and it is going to continue being so. Bitcoin is not tied to any financial market or institution, so there’s nothing connected to its value going up and down. This is why it will still be hard to predict how it will change in the future. One thing is sure – it’s going to continue being volatile. If you want to avoid significant losses, stay away from BT in 2024. But, if you wish to massive gains, be sure to invest in it. We know it doesn’t make too much sense, but such as the times we’re living in. Anyway, if you’re keen to invest in this digital currency, please – go URL.
