Why BITCOIN worth so much & Future OF BITCOIN 2023 - RapidOnlineBusiness
Why is Bitcoin worth so much?
There are believed to be several reasons for the increase in the value of Bitcoin. These include—
1. It is believed that in the near future everyone around the world will be using crypto currency. It can be interpreted in this way, if someone had said 20 years ago that everyone in the world would be using mobile phones, it might not have seemed very believable at the time. Many people think that the same is happening here.
2. The number of bitcoins is limited. So it's not surprising that a Bitcoin price is very high. Because, all the resources of the world have to be bought with those limited bitcoins, so the price of each one will be sky high.
Can you buy anything with Bitcoin?
Bitcoin can be used to buy many things these days. For example, any product from Overstock.com can be purchased with Bitcoin. Many more such businesses are currently accepting Bitcoin as a currency. It is assumed that, as credit cards are used instead of money, in the future Bitcoin or any other symbolic currency will be used instead of money and credit cards.
Will bitcoin or cryptocurrency be widely accepted in the future?
Cryptocurrencies will continue as long as stupid people are greedy and hand over money to crooks. But it will never be widely accepted that all people are not fools and thieves.
Stupidity and hypocrisy have always coexisted - hypocrites love idiots.
Bitcoin is a real thief's attraction: why hide money if not a pure thief? The hypocrite tells the stupid thief: We will keep your money very secret, no one will know where your money is. Quite a thief, oh what fun, I will cheat the government and keep my money in a safe place, I will not pay any tax, oh what a relief. And Cheater said: Ah, what fun, I killed the stolen money of the thief, he will not know who took his hidden money.
Thieves are fools. He didn't think that Cheaters team is stuck with billions of rupees by launching hundreds of cryptocurrencies. This group of people wonder where Sakamoto, the creator of Bitcoin, is hiding, who is he? If he kills all, he will not be found, how can the stolen money be recovered?
The easiest way to deceive fools is to show excessive greed for profit. Buy Bitcoins cheap, and sell them at unbelievable high prices. A group of thieves fell into this temptation and bought Bitcoin: which has absolutely nothing. There is no trace of where these coins are, who has them.
Yes, in the future, fools will be loved by the hypocrites with bamboo, long thick bamboo. A saint can keep money openly, and pay tax if tax is due. There is no reason to hide money.
People lose everything and become street beggars, age after age. Well, this is history.
How is it possible to understand in advance whether the value of cryptocurrency will decrease or increase?
Yes yes! There are two ways to understand this.
The first is basic human instinct.
The image is the price graph of the first cryptocurrency Bitcoin over the last 7 years. If you notice, the price of Bitcoin first boomed at the end of 2017 when it reached a maximum of $20,000. After that it came down to 3 thousand but for the next 3 years the price was between 6-12 thousand dollars. Then, after the corona epidemic of 2020, its price increased to about 60 thousand dollars. Then it decreased within a few days and again exceeded 60 thousand dollars. But if you look at the current price, you will see that it has decreased to below 40 thousand dollars. But after 2020, its price was at least 32 thousand dollars. And at the moment its price is 38 thousand dollars.
From this we can assume that its price rises suddenly, very high and then maintains a level. Also the price of cryptocurrency depends on how much people are trading or using it.
The second way is through machine learning.
If you want, you can use a computer to estimate the value of cryptocurrencies through machine learning. For this you need to gain some momentum. Because you need to collect some data. For example, if you input the data into a computer program or machine learning model, it will analyze and tell you about the previous price of a particular cryptocurrency, how popular it is or what people think about it on a particular platform, its price depends on the price of other things, etc. You can tell which direction the price will go. In that case the accuracy of his estimate will not be 100%. Even if it is 80% then it is very good.
Warning: Any type of investment pays off over a long period of time. It is better not to invest with risk for a short period of time in the hope of profit.