Post
Topic
Board Bitcoin Discussion
Re: If bitcoin prices remain the same until next year, will it be good for the crypt
by
TimeTeller
on 04/10/2018, 05:03:51 UTC
Well, if the market decides that bitcoin is worth $6000(for a few years at least, I doubt it though), then I'm fine with it. A bit of stability is good in my book as it makes mechants probably want it more, as I assume one of the reasons some merchants don't accept BTC is because of the huge price volatility.

That's price stability and IMO, that is actually great since merchants would somewhat reconsider in accepting bitcoin as a payment option. Number one enemy of merchants when it comes to accepting bitcoin is the price volatility. They are afraid that they would lose profits if they hold on to bitcoin for long, and securing a third-party payment processor would also cost them some $$$ on the side. Needless to say, the stagnant price would urge merchants to accept it and see whether it will be better for their business or not.

There are benefits in that aspect - having stable market price. With more and more merchants that might consider accepting crypto as payment, it means, more adoption of the usage of cryptocurrencies. Price volatility is one major hindrance in exhausting bitcoin's full potential in the ecommerce industry.
Thus, it will slowly create high demand of bitcoin in the market, and eventually increase its value.
But you'll never know what the future holds for bitcoin. The price can change easily.