The rally in the prices of Bitcoin has been on a consistent path for a year now. These prices are expected to rally in the future as per analysis and trends following the blockchain market. Skybridge Capital’s founder believes that the trend in the market is supposed to continue in the near future. He proposed the investors and traders in the market invest in Bitcoin as early as possible. According to the founders of different exchanges and owners, these coins will trade at approximately $500k in the coming time. If the investors and traders buy the coins at this time, it will help them to book the profits later and not miss out on the trends.
The economy is still growing and is expected to impact the trend of the cryptocurrency
It is said that the network of Bitcoin is still in the growing phase and will continue to give returns in the near future. The cryptocurrency is still being accepted in the retail market at a slower pace and is expected to increase in the coming future.
Bitcoin and other cryptocurrencies to be accepted as one of the mediums of payment
The lack of regulatory frameworks in existence bars the newcomers from entering the market. It’s expected that the companies in the growing economy will continue to diversify in the future and start adopting cryptocurrencies as one of the mediums of payment. Therefore, the future is still to be decided for the blockchain technology, looking at the frameworks that the government introduces.