Few days ago, The cryptocurrency bitcoin hit the $8000 mark. Currently, a single unit is worth $8309.73 with market capitalization at $138.71 billion. Investors are happy, some people are selling whilst others are buying. The coin is estimated to be worth $10000 by years end.
Now something worries me. would bitcoin settle at a particular price, or would it just continue to rise? Are bitcoin transactions on the increase or on decline?
I ask this because I am a holder of Bitcoin, I don't see myself using it to purchase a commodity when I know that it's value would surpass my purchase in the next two days.
With this reasoning, I know many people also wouldn't want to use it for transactions. We'd rather keep it for ourselves(hoard it) till we feel it's time to cash out. Bitcoin is becoming just a commodity to invest in than an actual currency for exchange if goods and services.
What would the future of Bitcoin be like? Would it keep on rising? Is there an imminent fall?
Comment below your views and opinions
