Everyone has an opinion about the future value of Bitcoin, even some of the smartest people in the world. And they all seem to vary. While Warren Buffett thinks it’s all a delusion, Elon Musk calls it a brilliant investment.
Bitcoin (the leader among cryptocurrencies) celebrated its 10th anniversary last year, January 3rd, 2019. Will it remain the best cryptocurrency for the next decade, though? Or will new advances in blockchain technology lead to alternative avenues?
Let’s try to answer these questions by considering seven of the most popular arguments made in favor of Bitcoin’s future.
- More than a decade after Bitcoin’s birth, it remains standing despite skepticism.
- It’s one of the most promising technologies of the 21st century.
- There will likely be many more cryptocurrencies in the future, but Bitcoin will remain the most trusted.
- Even if Bitcoin is not used as a medium of exchange, it will act as a store of value (similar to diamonds and gold).
- More countries will eventually start to regulate Bitcoin (like Japan did), which will increase its value.
- Although timing is everything in Bitcoin trading, it holds the potential to enrich without prejudice.
- A $100 investment in Bitcoin at the beginning of 2016 would have grown to an estimated $200,000 during 2017. Trading Bitcoin is savvy.
Bitcoin Trading for Beginners
It is supply and demand that drive Bitcoin’s value. The more people acquire it, the higher its price will soar because of the demand increase. Similarly, the more people sell it, the lower its price will drop because the demand decreases.
A vital factor to consider, though, is that Bitcoin can be compared to gold and diamonds due to its scarcity in supply. There are only around twenty-one million Bitcoins in total, and an estimated seventeen million of them are in supply.
And because of its underlying framework, the quantity cannot change.
It’s relatively easy for beginners to get started with Bitcoin trading. You can deposit money to an exchange and trade it, or you can sign up with a broker and make use of a variety of Bitcoin trading options.
However, many find the actual trading intimidating and often kill the idea before even starting.
How the Experts Trade Bitcoin
Because Bitcoin is volatile by nature, professional Bitcoin traders make use of various resources and trading tools to help in their decision-making. These often include membership in online community forums, reviewing statistics and chart analysis applications, watching when and what other successful traders are doing, etc.
One Bitcoin Trading Platform for All
Wouldn’t it be ideal if there were a single platform where both novice and expert investors could trade? Even more so, where deposits are refundable, no commissions are charged, and there are no hidden fees?
This way, one could progress from a beginner to a professional level without the need to change trading platforms – all the while saving on unnecessary costs. Well, Bitcoin LifeStyle is one such platform. It provides both automated and manual trading methods.
They have an automatic mode that has been specifically designed for inexperienced traders. Users set up their trading parameters, and the software trades Bitcoin on their behalf. This automation ensures the best trades are completed within the set parameters.
Their manual mode allows experienced traders to complete trades manually. The user enjoys complete control over each trade they make and can use that data to analyze and strategize – thereby improving their trade accuracy.