People who have invested very large amounts of money into bitcoin are very excited about the news that indicates a possible rise in the value of the world’s most popular digital currency. There are reports from very reliable sources that say bitcoin might be worth as much as $12,000 by the end of the year. Obviously, this is pure speculation at this point. Nothing is ever written in stone where the digital currency markets are concerned. There are quite a few indicators that are leading even the most pessimistic investors to believe that great things are on the horizon.
One of the biggest reasons why people think that $12,000 might be in reach for bitcoin this year is the fact that its value has been steadily on the rise for the past three months. Therefore, it is not out of the realm of possibilities that it will keep rising as time goes by. We will have to wait and see how the coronavirus impacts the value of bitcoin. There has been talk that more people are choosing to invest in bitcoin because they fear what the deadly outbreak will do to the global economy.
There are more people investing in bitcoin these days than ever before. It is becoming more mainstream with each passing day. People are attracted to the anonymity that bitcoin can give them when they make financial transactions. The popularity of bitcoin is also directly related to the lack of faith that people have in the global banking industry. They do not like the power that federal governments have to freeze bank accounts whenever they feel like it. Bitcoin makes it impossible for a government or law enforcement to freeze the assets of a person. A rise in the price of bitcoin later this year is very realistic when you consider the gains that it has made in recent months.
There are many very powerful people who are endorsing bitcoin and cryptocurrency in general. People like Elon Musk and Twitter CEO Jack Dorsey have been singing the praises of bitcoin for a very long time. They seem convinced that bitcoin is not a fad. They feel that it is here to stay. Millions of investors around the world agree with them. What 2020 has in store for bitcoin is anybody’s guess. It will be very interesting to see exactly how high it will be able to go.
