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Bitcoin – at the crossroads of the future – How to Find Cryptocurrency Predictions?

Bitcoin – at the crossroads of the future

Predictions

As people around the world raise their awareness of the cryptocurrency revolution, investment experts are lining up to express their opinions. In recent weeks, cryptocurrencies have been predicting numbers that defy gravity. It’s not uncommon to see a forecaster on TV explaining why they believe Bitcoin is destined to hit somewhere between $ 250,000 and $ 500,000 per coin in the next two years. At $ 500,000, the coin would have to rise more than 6000% from the current level. The numbers are staggering.
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On the other side of the fence we find uncomfortable. There are many respected financial analysts who are not afraid to warn people of an investment bubble. Some even admit that there may still be some games in cryptocurrencies, but sooner or later the bubble will burst and people will get hurt. To take home the point, they just need to think about the 2001 IPO balloon.
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Technical obstacles

The cryptocurrency revolution is still in its infancy. As such, most coins, including Bitcoin, trade without historical indicators to help investors. It is a free market in its purest form. Unfortunately, free market trading is subject to influence from all directions. Therein lies the rubbing for cryptocurrency investors. With no history to return to, investors must make decisions based on their guts.

There are many obstacles that complicate the decision-making process for bitcoin investors. The coin is always subject to the technical aspects of trading. The exponential rise in prices was driven by high demand and scarce products. Still, investors get a little nervous when the price goes up too, too fast. Then we see the typical correction that comes when the investment is overbought. The problem is that these corrections have been shown to be sharp, which is being tested by a multitude of investors who are not accustomed to such a high level of volatility.

Leaving aside technical analysis, technological issues are leading the market today. There is no denying that the cryptocurrency market had problems. After blockchain technology has been declared the safest approach to disseminating information, there are holes that are discovered almost every day. Mistakes will be worked out because it seems that this type of technology is intended for a striking term. Unfortunately, Bitcoin currently has blockchain technology under the microscope.

No matter how secure any system might claim, hackers will surely quickly expose weaknesses. The cryptocurrency industry has already been haunted by hackers who stole billions of dollars in Bitcoin and other cryptocurrencies. Losing money to hackers makes investors a little nervous. It also allows for an abundance of lawsuits by those damaged by technology that may not yet be as secure as promised.

Fundamental barriers

There’s an old saying: when school teachers and janitors start making millions from investing, prices will fall because we need school teachers and janitors. It is true that governments get annoyed when residents start losing money or making a lot of money without paying taxes. It is no coincidence that India and South Korea are among the most active countries on cryptocurrency exchanges, but both governments are considering banning trading in all cryptocurrencies. The United States, potentially the world’s largest bitcoin player, is working in Congress to decide how to regulate the cryptocurrency market. They have already banned several exchanges due to possible fraud. China is discussing a direct ban, while Europe appears to be following the US leadership.

If Bitcoin or any other cryptocurrency aspires to become an international currency for everyday payments, success will underpin the world’s largest economies joining the parade. Unfortunately, the main players (mentioned above) seem to be moving in a different direction.

The biggest concern seems to be Bitcoin’s appeal to the criminal element. Evidence is presented showing that North Korea stole Bitcoin to help fund its nuclear program. ISIS routinely moves money between its affiliates via Bitcoin, undiscovered until it is too late. The drug trade also enjoys the anonymity provided by chain block technology. More and more initial coin offers (ICOs) are proving to be common scams. These are all serious questions.

These are all fundamental issues that must be resolved favorably if cryptocurrencies are to survive and one day thrive.

Search or solutions

Mostly people are interested in all aspects of cryptocurrency. Bitcoin has already shown the potential to easily resolve payment problems between customers and suppliers. However, trust is a big issue going forward. If the property of anonymity is the driving force behind the cryptocurrency revolution, it will be difficult to get governments to climb up and approve cryptocurrency trading.

Let’s look at how South Korea decided to solve the Bitcoin problem. The South Korean government recently passed a law authorizing six Korean banks to allow their customers to trade bitcoins from their bank accounts. There is only one provision: the account must be opened in the real name of the customer. Poof! Here comes the function of anonymity. However, South Koreans can still trade Bitcoin through Bitcoin wallets as long as tax evasion is not the reason they want to do so. It’s a nice compromise, but its appeal may be limited.

In the next few months, investors should start getting answers to many questions. Until then, the prices of Bitcoin and other cryptocurrencies will remain volatile. The price will rise due to demand, but will fall every time a new edition becomes news. Until prices stabilize, people should focus on one investment rule. Never invest more money that you can afford to lose. In fact, Bitcoin is reaching its crossroads.