Is Bitcoin the currency to turn you into a millionaire?
At this time, political issues could prove to be good for bitcoin. CryptoCoin could turn many into millionaires
But is the Bitcoin a bubble that blows up? Some people seem to think so. The massive and unexpected increase in CryptoCurrency price seems to confirm that the bubble will break. But before the bubble bursts (if it breaks) it will make many people millionaires.
Panos Mourdoukoutas says the unique advantage of bitcoin against conventional currencies makes it stronger than the coin.
To begin with, the current economic situation in many countries and the policies of the central banks have led to a fall in interest rates, or even negative rates. In this situation, bitcoin investments are becoming more and more attractive. Long-term gains may be higher than the volatility risks. Under these conditions, many people invest in CryptoCurrency and will find themselves richer when their value increases.
At the same time, the financial situation and the market all over the world do not help too much fiat money. The sudden changes in the monetary system, as we have seen in India and Venezuela, have lowered the confidence in the money backed by governments.
Neither does the political situation in many regions help. It might take long before these problems are resolved. As long as the situation continues, people will continue to look for alternative investments, most likely the bitcoin and other big-market headlines.
Taking into account the growing demand, CryptoCurrency will continue to grow. Those who have invested in it will continue to have earnings until an alternative appears or the world becomes perfect. Until then, we hope many users will get rich.
scalability
The only problem that now lies between millions of dollars and bubble bursts is the scalability issue and the increase of the transaction confirmation time. If the bitcoin community reaches an early consensus and solves these scalability issues, the future will be bright for the bitcoin. Otherwise, ethereum or an altcoin will take its place, confirming the community's greatest fears.