It appears that Bitcoin is on the fast track to monetary superstardom, with its sky-high rise in 2017, from just over $1000 on January 1 to $16,421 on December 14. Some of the world’s most renowned investment experts believe that the value of the most popular cryptocurrency in the world is bound to reach even greater heights in 2018, greatly overshadowing its success in 2017. What's more, strategic predictions work greatly in favor of Bitcoin, claiming that it could reach an astronomical figure of $55,000 in the next five years. The cryptocurrency is likely to be one of the safest high-worth investment opportunities in 2018, and here are the five reasons why.
Bitcoin accessibility is on the rise
The beginnings of Bitcoin were modest, as it is with all great or revolutionary ideas, and back in 2009 it was a complicated currency to obtain, transfer, or store safely. You would need to have been very tech-savvy in order to manage this 'risky' new online currency. But nowadays, the environment has changed completely.
Today, numerous websites are making Bitcoin extremely easy to access and use, with everyone being able to partake in the cryptocurrency universe. Bitcoin, along with a variety of other cryptocurrencies, is now easy to obtain, sell, and store without any risk.
Institutionalized funding and regulatory oversight
It appears 2018 will be the year when government regulatory bodies start to invest billions into the space and conduct much-needed regulation and oversight for cryptocurrencies in general, thus allowing relevant financial institutions to provide their clients with new and secure investment options.
With numerous government-compliant companies providing the necessary oversight and safety in the space, the environment will become ideal for larger financial institutions to invest in the currency. With them, the universe of Bitcoin will expand rapidly, and countries across the globe will accept cryptocurrency as a valid payment option.
Avoiding financial disasters and outdated practices
With the collapse of the stock market and the devastating blow the global financial crisis has had on the economy, public trust in banks and traditional monetary systems has plummeted. Those responsible for the collapse of the economy gained billions of dollars’ worth of bailout, so the world’s economy is in need of a transparent, safe currency system.
Bitcoin uses the Blockchain technology to enforce online financial security for cryptocurrencies through cryptography, eliminating the need for banks and unnecessary fees, aiding in the disruption and the destruction of the old, corrupt monetary systems.
Disrupting the broken monetary system
The 21st century is a time of disruption and revolution, from Uber deconstructing and changing the transportation industry to Airbnb changing the way people search for accommodation, Bitcoin is destined to achieve the same feats in the financial industry of the world.
Blockchain is the way of the future, with banks investing in developing new, more secure and transparent systems, as well as giving power back to the individual, so it’s would not be an overstatement to say that Bitcoin and other successful cryptocurrencies are literally changing the modern world.
The world is starting to adopt Bitcoin
Finally, one of the most promising factors that contribute to the rise of Bitcoin is its widespread adoption in countries across the globe, so both legal bodies and private entities are increasingly starting to accept Bitcoin as a valid currency. This leads to increased opportunities in every aspect of life, from buying a coffee to go, to applying for a citizenship in another country. In fact, there have been claims that Vanuatu might be the first country to start accepting Bitcoin in an investment citizenship program as early as the beginning of 2018, with the rest of the world bound to swiftly follow the growing trend regarding government-approved transactions.
It appears that Bitcoin is not on a steady rise, but on an explosive one. With current trends gaining in popularity and traction, it will definitely partake in shaping the future of the global monetary system.