The value of Bitcoin has been shaky for some time but it looks like the digital currency has rebounded well. At the moment, one Bitcoin is worth about $19,000, which is its highest value since January 2018. One of the reasons Bitcoin went up recently, is that is showing signs of going mainstream. Payment giants such as PayPal Holdings Inc. have allowed their customers to buy and sell crypto, while Square Inc. have started holding their cash reserves in Bitcoin. Digital currencies going mainstream is great news for crypto investors and it’s safe to say Bitcoin is making a huge comeback. If you want to learn more about it, you’re at the right place.
A new safety net against inflation
If there’s one thing we were able to learn about digital currencies lately, is that they can act as a safety net against inflation. When the coronavirus pandemic first started, investors wanted to get as much gold as possible. However, borders got shut down and logistics became a huge problem. That’s why they turned to Bitcoin and other cryptocurrencies. As some of them expected, Bitcoin has made a huge comeback in late 2020 and stocking up on it was the right choice. With that said, we can expect even more investors to start looking at Bitcoin and other digital currencies in the future. These currencies will be viewed as a safe haven, especially during crises like the one we’re experiencing with the COVID-19 pandemic.
New Bitcoin startups
In case you need a proof that Bitcoin is going mainstream, just take a look at some of the new startups. Hot companies such as Robinhood and Revolut have made crypto a key part of their operations. With these startups growing, the role of crypto is expected to grow as well. It’s as if an entirely new world is emerging for those who’re into digital currencies. The comeback made by Bitcoin in the past few months will only help the world of crypto expand. With the way things are going, we might not be as far from a cashless society as it sometimes seems. It’s anticipated even more Bitcoin startups will enter the market in the next few years.
Bitcoin in the ecommerce industry
The ecommerce industry has been on the rise for quite some time. While people are still getting used to shopping online, they keep testing new ways to buy online. With Bitcoin’s comeback, we can expect more of them to give this cryptocurrency a go in 2021. This is especially the case now when PayPal accepts Bitcoin. With more online shoppers paying for stuff with Bitcoin, the popularity of this cryptocurrency will grow even more. This is one of the reasons why some people expect its value to reach new heights in the next couple of years. Once Bitcoin and other digital currencies become even more mainstream, they might just take over the entire ecommerce industry. This doesn’t come as much of a surprise since paying with crypto is both cheaper and easier.
More gamers paying with Bitcoin
Another industry that will be heavily impacted by the recent rise of Bitcoin is the gaming industry. Gaming and digital currency go hand in hand. Most gamers are tech savvy and Bitcoin and other cryptocurrencies are exactly what they need. Buying new games and in-game cosmetics has never been easier, as Bitcoin transactions go through in a matter of seconds. Also, there are no third-parties involved, allowing gamers to save money when shopping online. Bitcoin’s comeback will only encourage more gamers to start paying with crypto. Similarly, iGaming enthusiasts will be heavily interested in paying with Bitcoin as more and more providers are accepting crypto. Expect more of them to make deposits and withdrawals with Bitcoins in years to come.
Talks of new Bitcoin crashes
As we’ve already mentioned, the value of Bitcoin has been shaky lately. However, its ascent to $19,000 has went almost uninterrupted since the $10,000 price area. This is definitely a sign that this is a real comeback, and that we can expect even more from it in the future. Still, some are afraid of more crashes in the future and prefer to wait before buying it. While there’s always a chance that the value of the digital currency will go down, this scenario is quite unlikely, judging from what we’ve seen so far. Unless something drastic happens, the value of Bitcoin will continue to go up and it might just reach new heights in 2021. Therefore, if you’ve been thinking about buying Bitcoin, you shouldn’t let talks about new crashes stop you from doing so.
The bottom line
Bitcoin and other digital currencies are already a useful medium of exchange across the world. However, they’re still in their infancy and it might take more time before they make even more noise. The recent comeback made by Bitcoin is a good sign crypto is on the rise. 2021 will show whether Bitcoin will continue to go up and reach new all-time highs. One thing’s for sure – keeping an eye on the value of Bitcoin and other cryptocurrencies is a must.