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How the price of bitcoin in 2020 will change

09/19/2018
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  • bitcoin
  • price
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Dynamics of the cryptocurrencies graphs indicates the high volatility of this asset. Therefore, experts differ in their opinions about the price, bitcoin price predictions are about one million pounds, and about one thousand. As usual, the truth is between these values.

Arguments for the rising bitcoin cost

Now more than 50% of all cryptocurrency capitalization accounts for only one asset. And this is certainly bitcoin. Historically, it was bitcoin to become the most famous digital coin in the world. With the help of mining 95 million, BTC was already produced, which gives the market a large scope for purchases and sales. Its daily turnover is measured in millions of pounds.

However, this is only the tip of the iceberg. It is impossible to calculate how many bitcoins were sold in the form of financial instruments. Receipts for the pairs BTC / USD and BTC / GBP are traded on the world's largest exchanges. Therefore, important arguments in favour of rising costs can be considered:

  • the dominant position among all digital coins;
  • recognition as a financial asset;
  • high potential for legalization and free circulation;
  • the openness of information

So far, very few countries have recognized cryptocurrency as legal tender. One of the first country was Japan. As a result, more than 200,000 shops, cafes, restaurants and petrol stations began accepting payments in bitcoins.

Now bitcoin price prediction 2018 does not take into account the likelihood that the BTC will become a means of calculation in everyday life. But when this happens, the price can exceed 20 thousand pounds per coin. This is not the most optimistic scenario, some experts say about figures with six zeros.

Arguments against the rise in the coin value

The opponents of the cryptocurrency have their reasons. It is worth acknowledging that they have a serious justification. The most important reason against bitcoin was its technical imperfection. In one second, the system can process no more than 7 transactions. If you take into account the popularity of exchange operations, which exists now, it is not enough for the normal operation of the network.

The second argument against the rise in the price of bitcoin is a long processing time. It is impossible to transfer money quickly, than for 10 minutes. Usually, it takes up to half an hour, and sometimes the operation can be delayed for a day.

Those who give a negative bitcoin price prediction, there is one more argument. Here, the transaction fee is independent of the transfer amount, and is approximately one pound. The figure will appeal to those who transfer large capital. But if a person wants to pay with a cryptocurrency for a cup of coffee, then the share becomes inadmissible.

The main problem is that it is impossible to change the blockchain algorithm. To get the opportunity to increase the size of the block from 1 to 32 megabytes, it was necessary to carry out the hard fork. This led to the appearance of Bitcoin Cash. Despite the close names, this asset is now completely unrelated to the mother's coin. And it takes a share of capitalization in 4% of all the cryptocurrency. It can be confidently said that this led to a decrease in the cost of classical bitcoin.

Summary and Conclusions

From all that has been said, it is difficult to give bitcoin prediction 2020. It has become a popular financial tool and takes a worthy place in investment portfolios. Its capitalization is approaching 100 billion pounds.. At the same time, one cannot confidently assert that the price will rise.

The reason is the emergence of competing cryptocoins. There is no doubt that the price of all the assets of the blockchain will grow. However, it cannot be guaranteed that bitcoin will be among the growth leaders. It has largely disclosed its potential and allowed many investors to get an excellent income.

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