Bitcoin… an economic bubble or a new revolution in the world of technology?
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Answer Bitcoin… an economic bubble or a new revolution in the world of technology?
After the sharp drop in the price of the bitcoin currency recently, which brought its price close to the levels of $ 6000, it made some people interested in the world of digital currencies wonder about the future of bitcoin and is it really a digital revolution or just an economic bubble?
To begin with, we must realize that the rise in the price of Bitcoin from a few cents to current figures is one of the greatest rises for commodities in nearly a hundred years, Nakamoto’s innovation that turned many individuals into the rich in this field. What is more, is opening the door to blockchain technology, this technology that has made hundreds of companies look for a way to use it in their daily transactions in more than one possible way. Which made some see that the creation of the most powerful global organization (Blockchain) is sufficient reason to believe in the future of the Bitcoin currency.Read:Will the official Bakkt platform launch affect Bitcoin?
Is Bitcoin going to last?!
In fact, this is a difficult question that no one can answer, but the data says the following:
- Millions of new users entered the world of bitcoin in 2017, but quickly escaped from it when the price drop occurred after that. It is true that it is a negative step, but bitcoin bypassed them and made its way after that and did not collapse completely due to the reluctance of some people from it.
- Bitcoin provides a suitable financial solution for countries that suffer from high inflation, or for individuals who do not have access to financial services due to their presence in remote countries.
- Bitcoin gave a good lesson in transparency and made transparency a reality and possible for anyone around the world, and all the obstacles faced by the currency made it a strong and modern place that includes all the modern innovations and inventions.
- The bitcoin currency now aspires to address the problem of the last kilometer, which is meant the problem of consumers and the reluctance of some of them to use it as a value and monetary currency.
- It is important to remember that Bitcoin will not collapse for the very simple reason that Bitcoin was created to remain a permanent investment, and millions of people hold Bitcoin as a store of value such as gold and real estate.
But to be fair, Bitcoin faces some hurdles that pessimists may not know about, which is the standardization of transaction fees, which creates a problem when trading with very few financial values, but this matter is being addressed in full swing by developers and the Bitcoin community, and is also being worked on. Increase the speed of transfers between individuals to take place in less than a second.Read:Founder of “Terra” Project: “Terra Network” will add 160 new projects by the end of 2022 and its “TVL” exceeds $ 22 billion
History testifies that the lower the price of the bitcoin, it rebounded at lightning speed, and those with experience in the market confirm that its next rise will inevitably be very large.
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