Bitcoin trading has never been more popular. Thousands of people are joining the network with each passing day. 2021 proved to be a historical year for Bitcoin. The institutional interest for this cryptocurrency has never been higher and the number of traders exceeds 5 million.

Many reputable brands such as Tesla, Microsoft, Expedia, Shopify, and Starbucks have spotted the advantages that Bitcoin has as a payment method, which is why they decided to include it as a payment method. The wide acceptance was a major influencer towards its price.

These days, Bitcoin’s value fluctuates between $50,000 and $60,000. At one point, it even reached a peak value of over $63,000. The best part about it is that experts believe that Bitcoin will continue to rise and it is yet to reach its full potential. We wanted to touch on that topic and see what the end of 2021 holds for Bitcoin. We’ll also take a look at the distant future. Let’s break down the details.

End of 2021 Projections

Many experts believe that Bitcoin is likely to reach its peak value in the fourth quarter of 2021. As for the peak value, they state that this cryptocurrency can reach a six-figure number for the first time in its history. If Bitcoin manages to reach $100,000, this will mark the beginning of a new era for this cryptocurrency.

As for the reason why experts believe that Bitcoin is yet to reach its full potential, halving events have provided us with a lot of useful information. History shows that after each halving event, it takes Bitcoin a year and a half to peak. Considering the fact that the last halving event took place in May 2020, the peak is expected to be reached around the autumn or winter this year.

The near-future potential is massive and to make things even better, reputable Bitcoin trading sites even provide traders with useful information on the near-future fluctuations of this cryptocurrency. In doing so, they allow them to maximise their chances of making a solid profit. These advanced services are part of the reason why trading with Bitcoin has become so profitable and why so many people are keen on joining the network.

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Distant Future

The distant future of Bitcoin is very hard to determine. The reason for that is the fact that authorities are putting a lot of effort into making sure that Bitcoin stays an outlaw currency. As you know, Bitcoin is highly decentralised and self-sustainable.

It is powered by blockchain technology. Thanks to this revolutionising technology, all Bitcoin users can process transactions and get rewards with it. The process of recording transactions is known as mining, while the rewards for mining are Bitcoins. Once a transaction is recorded and verified, it becomes a block and is integrated into the blockchain.

Thanks to the technology that powers Bitcoin, banks are completely cut off from the process and cannot profit from the transactions because they cannot impose their fees. Not only that, but governments are not fond of things that they cannot control and Bitcoin is controlled by all of its users, not from one centre.

The governments and banks are powerful allies which is why many experts think that Bitcoin will forever be an outlaw currency. Others are a bit more optimistic. They think that a point where the majority of the world’s population uses Bitcoin will be reached and due to the massive pressure, authorities will have no other choice but to make it legal.

Conclusion

While Bitcoin’s end of the year projections are much easier to predict, the distant future is extremely shady. There is nothing to do but wait and see how the situation plays out. One thing is for sure – people will always be fond of Bitcoin as it boasts tons of fantastic advantages.