The question of acceptance and mainstream adoption, though still an issue for Bitcoin, is arguably not as concerning as it used to be a few years ago. Bitcoin is gradually winning its way into the hearts of many, a realization that is steering an increase in the price of the premier cryptocurrency.
Bitcoin has seen a lot of growth, trading remarkably below $20,000 for the first 12 years of its existence. There has been a remarkably huge twist this year 2021 as Bitcoin has not just maintained a consistent price growth but has breached the $50,000 psychological level for the first time in history.
Many have predicted this price point long before now, and until it is becoming a reality, many may doubt the potential of Bitcoin to attain this huge valuation. The world of today is, however, filled with so many conservative investors and financial pessimists who still do not believe in all the appraisals that Bitcoin is receiving.
A lot of changes and milestones have been recorded in the crypto space with respect to Bitcoin adoption. While institutional investors are getting in the game, there are still some retail investors who are taking the back seat in buying up some Bitcoin.
This piece is targeted at people who have not yet caught the Bitcoin fever just yet. As predicted by the creator of Bitcoin, Satoshi Nakamoto in the coin’s iconic Whitepaper, the cryptocurrency may yet see increased valuation beyond the $50,000 mark of today when more people get to embrace the coin.
While there is a possibility that the price of Bitcoin may drop from this price level, there is also a possibility that it will form support at this same level while it aims at new highs. Some observers are awaiting Bitcoin to drop to a lower price level before they buy but this opportunity may not present itself again.
It should be noted that the acquisition of Bitcoin is not necessarily limited to one whole Bitcoin at a time. In fact, the coin’s current valuation has weakened the opportunities for the average person to acquire one or more BTC at a time. One can purchase 0.01 BTC, 0.05 BTC, or 0.1 BTC and so on as the coin and other cryptocurrencies are divisible.
There are diverse expert projections that tips the price of Bitcoin to soar beyond $146,000, as well as $500,000 in a few years. The truth about Bitcoin is that it offers a unique value even at its earliest stages, but with the embrace of more people, the coin’s potentials can be further propounded.
The Bitcoin vision is to revolutionize payments and offer value in terms of increment in value along the line. Everyone can join the train and help contribute to this ambitious stride. Everyone may get to a point where they need Bitcoin for a transaction or two later in the future, buying the coin at $50,000 through a well-articulated guide may be the cheapest price level many people will ever see the coin to buy.