Can Bitcoin make another 295,999,900% in the next 10 years?
Who would have imagined in 2011 that Bitcoin would reach the highs of $20,000 near the end of 2017? Bitcoin wasn’t as wildly popular as it is today and in 2011, 10,000 bitcoins were required to purchase a pizza. What would be the value of those 10,000 bitcoins today? Any guesses? Those bitcoins would have been valued at upwards of $90 million.
The Ups & Downs
The rise of Bitcoin was anything but predictable since it’s launch on the 3rd of January, 2009. Bitcoin was created to bring a financial revolution in the world by giving them a digital currency that cannot be controlled by governments around the world.
Today, Bitcoin has deviated from its path and has lost its image of being a useful medium of exchange. It has become far more popular for its dramatic rise and fall now. Many experts around the world have compared Bitcoin to the Dutch tulip mania of 1637, which ended with a great loss for many investors.
Bitcoin’s price rose by 1000% on some days and just before Christmas 2017, it reached a price of almost $20,000. However, it couldn’t maintain its momentum and lost more than 80% of its value in January 2019. At the time of writing, one Bitcoin is priced at $9159.
Did Bitcoin Change the World After a Decade of its Existence?
Bitcoin’s hold on the crypto world was far from over, regardless of it losing 80% of its value at the beginning of 2019. Many of the new crypto projects have come to the attention of the world as the fire that Bitcoin ignited has spread far and wide.
Today, some of the largest tech companies like Facebook have announced about launching a digital currency of their own. Many of the leading global economies including China, France, among many others have plans to launch a Central Bank Digital Currency soon.
Almost all positive and negative news about the crypto industry affects the price of Bitcoin today. It is still considered volatile, even after more than a decade of its introduction to the world. Many experts have vouched that Bitcoin will never become a mainstream currency because of its unpredictability.
Bitcoin’s skeptics and critics still consider it to be some kind of scammy internet money that has no real-world value. They believe that it is still growing because of the mistaken belief of the crypto fanatics that Bitcoin will soon become a mainstream currency of the world.
Best Performing Asset of the Last Decade
“Bitcoin gave an ROI of an estimated 295,999,900%.
Yes, that’s 100% factual information”
I don’t think that anyone would be surprised by the fact that Bitcoin has topped the list of the best-performing assets in the last decade. The 2010s have proved to be the longest-running bull market in the entire history. It provided much-needed relief to investors who were affected a lot during the bear market of the previous decade.
You must be wondering that there must be some assets that at least rivaled the returns that Bitcoin gave. Let me tell you that there are no assets that gave the returns as high as Bitcoin. The S&P 500 gave an ROI of 181% during the 2010s, Netflix gave an ROI of 3680%, and Palladium gave an ROI of 354% during the same period. On the other hand, Bitcoin gave an ROI of an estimated 295,999,900%. Yes, that’s 100% factual information.
The Next Decade – Future of Bitcoin
There are perhaps, thousands of projections about Bitcoin’s next decade. One thing is for sure the mass adoption of Bitcoin is imminent in the 2020s. The blockchain technology is all rage now and it is expected that blockchain technology will solve many of the problems that the world currently faces. With Bitcoin’s rise in, regulatory scrutiny is likely to intensify as central banks will closely monitor it in the 2020s.
Within the next few years, we expect Bitcoin to become a bit less volatile because of the halving process it went through in May 2020. The halving process has halved the number of Bitcoins awarded to the miners for processing bitcoin transactions.
Today, many of the leading crypto programmers and writers are focusing on the further development of Bitcoin rather than on its promotion. However, Bitcoin’s adoption rate is still below what was expected initially and that’s because of the complexities that are associated with the Bitcoin transactions today.
There’s still a lot to look forward to in the 2020s when it comes to Bitcoin. We believe that the Bitcoin Exchange-traded Futures (ETFs) may soon become a reality and this will prove to be a very important milestone in the history of Bitcoin. Overall, the Bitcoin’s future looks bright from what we can see. Bitcoin will see further high growth once more businesses and people start adopting it and that will become a reality sooner or later in the 2020s.