The cryptocurrency industry has had its fair share of trouble over the years, with Bitcoin bearing the majority of the travails that comes at various times. Just this year alone, Bitcoin was a target of some brutal attacks from some of the biggest investment bankers in the world, led by Jamie Dimon the CEO of JP Morgan who tagged Bitcoin to be an outright fraud. A few months ago another attack ensued, but this time in China, as the Chinese Authorities conducted a carefully planned crackdown on Bitcoin and the cryptocurrency industry as a whole. All the major cryptocurrency exchanges were forced to close down, and the government also banned all future ICOs from taking place within its borders.
But it would seem that Bitcoin has attained full maturity as it shrugged off both serious attacks on its entity after only an intermittent dip in prices. Bitcoin came back much stronger and even surpassed its record values within a few weeks of the Chinese clampdown despite the country being one of its biggest markets.
Bitcoin began this year trading at just around $1000, it steadily grew throughout the year, with many naysayers targeting it and branding it as a bubble waiting to burst. But the cryptocurrency has shown its resilience in the face of similar attacks in the past, and at the time of writing this Bitcoin is trading at over a whopping $11,000!
It is widely believed that Bitcoin will eventually be traded at over $15,000. And this is not a very distant assumption as there are key reasons why Bitcoin will indeed breach this mark. Some of these reasons include:
Limited Supply
There will never be more than 21 million Bitcoins to be ever made on its blockchain and this is one of the reasons its prices will keep soaring to greater heights and will definitely go above $15,000. From its concept, Bitcoin was designed to resemble gold; in that it is very expensive to get and that it has very limited supply that can be exhausted with continued mining. And with the extraordinary demand that Bitcoin commands from its users worldwide, its prices will only continue to go up, some say it will even be trading at the predicted $15,000 around the beginning of next year.
Widespread Acceptance
Gone are the days when Bitcoin was just seen as a geeks-only currency and something that will not become part of public life. As at present, even the biggest companies and brands in the world are accepting Bitcoin in exchange for their goods and services. Giants like Microsoft, PayPal and Dell have all taken to Bitcoin, and you could even buy a supercar like Lamborghini with it.
Not likely to be banned
Bitcoin due to its extremely high fluidity, and portable structure, coupled with the fact that the technology upon which it is built is completely decentralized, will likely never be banned around the world. This gives big-time investors the confidence to keep pumping in money into the industry which will just keep driving prices up. Even countries like China didn’t actually declare Bitcoin illegal, as any declaration will remain toothless, due to governments having no means of shutting the blockchain down or enforcing any ban on the people.
Technical analysis
Could hit 15K as you say in one month from now. Check out my article yesterday on Bitcoin
very good work & high content
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