Mass Adoption for Bitcoin Required

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Bitcoin Image

Partying with Bitcoin is one-way supporters of the cryptocurrency are trying to get the BCH into the public view. Bitcoin is in a bullish period right now, and with May ending many financial analysts believe it might hit bearish price action. Bitcoin tripled from April to May earning $1,818. It was $632 in April. For anyone who invested in the stock this has meant some nice returns. However, it is not expected for the stock to go up to $4,000 anytime soon. Segwit is the Bitcoin currency with the least volatility, but it has also shown a parabolic increase that may be over.

Median transaction fees are also on a low to get more people to trade the currency. When people are trying to get Bitcoin recognized as a true currency, it takes mass action, which has happened to a degree. Many have jumped on mining the coin and into the stock market to trade on it. However, it does not mean that most people are going to start using the coin to pay for goods. What needs to happen now is for mass adoption where people are turning more towards Bitcoin for payments and less towards their countries currency.

In trying to convince people that Bitcoin is good money the experts are listing the qualities of why one should adopt it. They are stating the stability of the value over a period. If one does not have stability in a currency it cannot function properly. It is easy to look at countries with flagging currencies like Venezuela. Their currency has little to no value because of the economy and a lack of stability for the money to buy goods. Bitcoin enthusiasts are trying to make the cryptocurrency into something stable that has value, but unless the economy and more people are willing to take it on—it may never reach the level it needs to; especially, with the US. US people are still waiting to see
whether Bitcoin is worth it.

A Possible Outcome

There is a Bitcoin bubble with a price prediction of $30,000 for 2018, and what this will do is make it an important investment for those who want to make a killing in the market. The information about $30,000 as a price prediction is slightly confusing and it is only for one specific digital currency—the original. But, most analysts are not supporting this price prediction outcome.

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