Why 2023 Might Be a Great Year for Bitcoin
Bitcoin is a decentralized peer-to-peer digital currency independent of Central bank regulations and manipulations. The Bitcoin community is still determining whether to believe the price of this virtual currency will increase or decrease in 2023. This virtual money hit an all-time high in 2021 but dropped drastically in 2022. Since then, the value of this electronic currency is yet to recover. The year 2022 is highly characterized by inflation. On the other hand, digital money experts and influencers believe that the value of Bitcoin could increase to $80,000 and beyond. This high increase shows that 2023 might be an excellent year for this virtual money. Perhaps you could Create a BitIQ Account platform that offers better leverage and security.
This virtual money bull runs historically coincide with a four-year market cycle, including purchasing, an uptrend, a downtrend, and selling this electronic money. However, the future of this electronic asset seems brighter. Based on recent developments, 2023 is an excellent year for this digital currency.
Increased Institutional Adoption
Both public and private institutional investors are now investing in this digital currency as they find the money a legitimate asset class. This digital currency is the most popular cryptocurrency with a large market capitalization. Moreover, this virtual asset is highly accessible since there are tons of exchanges investors can use to trade, buy or sell this virtual money. This digital money is now considered a safe-haven asset against market volatility and inflation. The current societal and economic climate creates a situation where people want to hold less cash and remain hedged against market swings.
Recently, there has been a trend where public companies are converting their cash treasuries into this electronic currency. Moreover, large and well-established companies like Starbucks, Microsoft, and PayPal have incorporated a Bitcoin payment system. These corporate institutions’ confidence in this digital money indicates that 2023 might be an excellent year for this digital asset.
Easy Accessibility to the Public
People can use Bitcoin as a digital asset, a store of value, and an exchange medium. While this virtual money has started to gain attention as a great payment medium, it has also established itself as a new asset class in the thirteen years of its existence. When the public is not willing to use this electronic money for transactions, people want to convert their conventional cash into Bitcoin. These people believe this virtual currency is an excellent hedge against inflation because of its limited supply.
There are many trading platforms available online to make Bitcoin investing accessible. You will need a smartphone and a strong internet connection to access these brokerages. Also, you have to learn and understand how to trade with the brokerage. Also, find a reliable platform that will help you to maximize your Bitcoin trading profits.
Riding the Fintech Wave
PayPal is a well-established company that announced that it would be launching a cryptocurrency buying and selling platform. This launch included significant cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ethereum cash. Moreover, PayPal has announced plans to allow Bitcoin transactions.
PayPal is a massive platform with over 370 million users who can now adopt this electronic money as a payment option. Share is another platform allowing people to purchase and sell this digital money. There are also Bitcoin ATMs available globally. These Bitcoin ATMs allow people to buy this electronic money in a secure and user-friendly way.
The Bottom Line
2023 might be an excellent year for this virtual currency because of the rising prices in the Bitcoin market. There is still time to invest in this electronic currency. With many countries wanting to regulate this digital money, Bitcoin will become mainstream.