What is the future outlook for bitcoin?
The Winklevoss twins have purchased bitcoin. In 2013, The Washington Post reported a claim that they owned 1% of all the bitcoins in existence at the time.
Other methods of investment are bitcoin funds. The first regulated bitcoin fund was established in Jersey in July 2014 and approved by the Jersey Financial Services Commission.
Forbes named bitcoin the best investment of 2013. In 2014, Bloomberg named bitcoin one of its worst investments of the year. In 2015, bitcoin topped Bloomberg’s currency tables.
According to bitinfocharts.com, in 2017 there are 9,272 bitcoin wallets with more than $1 million worth of bitcoins. The exact number of bitcoin millionaires is uncertain as a single person can have more than one bitcoin wallet.
In August 2020, MicroStrategy invested in Bitcoin.
In May 2021, the Bitcoin’s market share on exchanges dropped from 70% to 45% as investors pursued altcoins.
Peter Thiel’s Founders Fund invested US$3 million in BitPay.In 2012, an incubator for bitcoin-focused start-ups was founded by Adam Draper, with financing help from his father, venture capitalist Tim Draper, one of the largest bitcoin holders after winning an auction of 30,000 bitcoins, at the time called “mystery buyer”. The company’s goal is to fund 100 bitcoin businesses within 2–3 years with $10,000 to $20,000 for a 6% stake. Investors also invest in bitcoin mining. According to a 2015 study by Paolo Tasca, bitcoin startups raised almost $1 billion in three years (Q1 2012 – Q1 2015)
This chart that you are looking at, I hope it will be the most legendary chart I have ever made.
You’ve seen a lot of logarithmic charts like this one:
It is something different.
This is the Bitcoin outlook for the next 4-5 years.
– Limited issuance (some of which is lost);
– Taking a large portion of Bitcoin out of circulation (huge demand – no supply = growth);
– Acceptance of Bitcoin at the state levels;
– Accumulation of a large portion of Bitcoins in the large fund’s hands ( Bitcoin is a very interesting asset for them);
– Continuous dollar issuance (a variant of the fact that it’s not bitcoin that’s growing, but the dollar that’s depreciating);
Feel free to write other factors of the crypto market growth in the comments section. I can’t write my thoughts in this post about the creator of Bitcoin , its purposes. TradingView has moderation, and this information won’t pass it:) In the plans of changing the current financial system of the world: the Bitcoin price raising to the goals, I have shown in this chart.
Price and volatility
The price of bitcoins has gone through cycles of appreciation and depreciation referred to by some as bubbles and busts. In 2011, the value of one bitcoin rapidly rose from about US$0.30 to US$32 before returning to US$2. In the latter half of 2012 and during the 2012–13 Cypriot financial crisis, the bitcoin price began to rise, reaching a high of US$266 on 10 April 2013, before crashing to around US$50. On 29 November 2013, the cost of one bitcoin rose to a peak of US$1,242. In 2014, the price fell sharply, and as of April remained depressed at little more than half 2013 prices. As of August 2014 it was under US$600.
According to Mark T. Williams, as of 30 September 2014, bitcoin has volatility seven times greater than gold, eight times greater than the S&P 500, and 18 times greater than the US dollar. Hodl is a meme created in reference to holding (as opposed to selling) during periods of volatility. Unusual for an asset, bitcoin weekend trading during December 2020 was higher than for weekdays. Hedge funds (using high leverage and derivates) have attempted to use the volatility to profit from downward price movements. At the end of January 2021, such positions were over $1 billion, their highest of all time. As of 8 February 2021, the closing price of bitcoin equals US$44,797.