As I heard a lot of prediction about bitcoin that it is going to $ 1mn till end of 2020 and people will see it soon. As a holder of bitcoin I am always worried that bitcoin may not go down as I am much money in it. I mostly think that I should sell my bitcoin now and make my money but also fears to post the train of bitcoin. So what are you people suggestions that will bitcoin will always continue to grow or will it stablize at some price or may go down?
There are a lot of things to consider when making a statement about the prices of bitcoin increasing consistently. Here are some of the factors that affect the price of bitcoins in the future:
- Government prohibitions and world-wide implementation may affect the price of bitcoins relatively. If the government announced that they will prohibit the use of such, then we may expect prices to decrease;
- Economic discrepancies between countries hinder the further development and enhancement of cryptocurrencies as underdeveloped countries may prioritize different issues rather than embracing the implementation of a digitalized payment; and
- The risks of having a new type of cryptocurrency that may ultimately take the spot of bitcoin is possible in the future.