Logo letter
Forecasting the Future of the Bitcoin Price
about 2 months ago

 

Be sure to read the many articles out there on how to interpret the recent price moves of the bitcoin virtual currency. Many experts have made comments regarding the sudden upsurge in value. In fact, there have been several articles written by those that understand the nuances of investing in this virtual asset. The following article looks at how the recent changes have affected the use of other currencies. Continue reading this page to know more.

 

As I write this, the value of bitcoins is about to change by about fifty percent. This is good for enthusiasts that are anticipating an increase in the use of virtual currency. However, others do not see this move in a good way. This group includes central banks that have major political influence. For them, it is a chance to tighten their grip over the future of the U.S. dollar, the world's strongest and most widely used currency.

 

With a fifty percent increase in the bitcoins available for trading, the future of the future currency market looks bright. However, with any major currency shift taking place, be it a recession or an economic crisis, the exchanges will adjust and change their rules to accommodate the new situation. With no clear rules in place to determine which virtual currency is the "real" money, the exchanges have to engage in some form of trial and error. This means that the future of the virtual currency market depends on how these rules play out over the next few months.

 

One possible rule change is that in the next two years, the average age of the longest block in the ledger will be increased to ten years. This will take about two years to complete if the average age of all blocks is currently eight years. Another rule that may be implemented at some point is that if a new technological breakthrough occurs that reduces the cost of computing power required for the software that maintains the blockchain, then a minimum of ten percent of all bitcoins will be immediately be raised to the level of a national standard.

 

Two factors could cause this minimum of five percent to increase as predicted. One factor is the completion of the first electronic transaction in the history of the world's largest computer network. The other potential reason is that the first electronic transaction of a large number of bitcoins takes place during the June 2021 Summer Olympics. All of the sudden, people are interested in owning a large number of bitcoins and the price shoots up.

 

Since then, the exchange rate between regular currencies has dropped by one percent and continues to decrease. The August 2021 forecast is for a slowing down in the number of transactions but there is no indication of a downward trend in the value of bitcoins. Many factors can affect the value of bitcoins, including the government's plan to make its own version of the traditional money, the "bitcoins" that will be issued on the" Bitcoin virtual machine". The "Bitcoins" that will be issued will be backed up with real assets like gold and silver. The government is expected to make this decision by the end of the year, possibly as soon as July 2021.  Visit this website virgocx.ca to get more information!

 

Learn more at https://en.wikipedia.org/wiki/Bitcoin

Posted in:Latest
Read Further