The Bitcoin price tripled in 12 months; What’s the future? 

The Bitcoin price was traded at around $420 on major Bitcoin exchange markets in April 2016, while in twelve months in April 2017, its price went up to around $1260. This means that Bitcoin price tripled since last year.

The reasons behind this explosive growth of the Bitcoin price since last year is mainly due to the growth of Japanese and US Bitcoin industry along with the significant growth in other markets like India and the massive changes in regulatory frameworks around the world.

According to analysts who follow the ongoing advances in Cryptocurrency industry, the Bitcoin price is expected to increase consistently in the mid-term if key markets such as Japan and the US sustain their growth.

Why Bitcoin is becoming more and more popular?

The reasons Bitcoin and in general cryptocurrencies are becoming more and more popular are mainly because:

1) the anonymity they offer
2) not controlled or regulated by a central authority
3) offer high safety

The Future

As we are in 2017, Bitcoin and any other cryptocurrecies still have not being officially recognized by any government.

The lack of trust and the general believe by many regulators that Bitcoin is a channel of illegal purposes such as black market trading keep governments and central banks to hold back for a possible official recognition of Bitcoin as an alternative currency.

The future of Bitcoin depends in a major proportion in Education. Most of people around the world do not know and do not clearly understand what the Bitcoin and in general cryptocurrencies are.

The acceptance of Bitcoin as a mean of payments by business will definitely play a major role for the future of the digital currency. This is relate also by the request of people to pay for their purchases with cryptocurrencies.

As an investment, Bitcoin is still a risky one as the price fluctuation is relatively big. Even thought more and more investors and turning to the digital currency as the political and economical issues around the world make the investments in traditional assets more and more risky.

Will the Bitcoin become officially an alternative currency? Will governments recognize it as a mean of payments? Even though the advances and increased popularity of the last years, perhaps it is still too soon to tell.

What is definitely acceptable is the fact that Bitcoin and other cryptocurrencies are becoming more and more popular among people, in particular for technology technologically-savvy individuals and seems that the Bitcoin as the most well known digital currency is here to stay.

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