Ian King, the cryptocurrency expert for Banyan Hill Publishing, says that Bitcoin is a miracle. Nobody would have thought that it would have reached the current heights it currently occupies. Just to give an example, imagine if you started your own cryptocurrency from scratch and gave out one million of it. Would people think that it would be worth anything ten years down the line, even if you tell them that there are only a limited amount of your coins available in the world? The truth is that it is not so simple to start a cryptocurrency. Nevertheless, Bitcoin has thrived against all odds. Even when the prices have gone down, such as it did since the last peak last year, Bitcoin has always recovered and gone up in price. Ian King says that this time as well, the current drop will end up resulting in higher prices.
The truth is that there is only one thing that drives the growth of Bitcoin. It is all about the user base and how fast people are starting to join the user base. More and more wallets are currently being opened up. It would not be surprising if a few years down the road the number of wallets amounted to billions of wallets. If that happens, the price of Bitcoin will go up a lot. Coinbase is the number one app in the iTunes store. What if everyone who has a smartphone downloaded it and started investing some of their money in Bitcoin? The price would certainly go up after that. View ideamensch.com for more info.
What determines the pace at which people start adopting Bitcoin? It all has to do with how Bitcoin users spread the word. When people invest in Bitcoin, they will often tell their family members, friends, and professional network about it. This will lead to more and more people investing in Bitcoin. This is how Bitcoin went up in price to ten t housand dollars in the first place. It all has to do with people talking about it and motivating others to download Coinbase and put a little money in Bitcoin, even just for curiosity purposes.
Nobody would have thought that Bitcoin would grow faster than any religion or ideology grew. Nobody even really knows who the real creator is. Bitcoin started out as an idea, just like all currencies. It is worth its price because of public opinion. More info can be found at https://angel.co/ian-king-banyan