In less than a week, the much talked about halving will come and go. Nonetheless, haggling about the price of Bitcoin will remain. There seems to be more Bitcoin enthusiasts who share insinuations that the halving will shoot the price to the moon than those who think it will go to the loom – or at least let the price remain unaffected.
Each camp is clear and certain of the picture it has. What is dicey, however, is which to follow of both camps, especially if you are a Bitcoin enthusiast with a keen interest in what becomes of the digital currency. It is nearly unimaginable what the price will be when more regular people buy Bitcoin with a limited fixed supply. Negative factors
Several developments have not helped the situation. Recently, we had the Brexit vote which pushed the boundary of the digital currency’s level of adoption upwards as global currency markets were shaken up. The EU credit rating has been downgraded to AA from AA+ which is also a blow.
It is gradually becoming a common discussion that Bitcoin seems to be the only blockchain system that has seen use outside of those who are tech-savvy because it fulfils a need .
In its third report on blockchain , this being to analyze whether a technology like Bitcoin has the potential to offer a superior alternative to the financial system today, Citigroup cited that "cryptocurrencies’ potential impact will likely be more from its ability to open up new markets and reach new customers" in the financial sector. In addition, a whopping 71% of polled respondents thinks the U.S. economic system is "rigged in favor of certain groups," according to a new poll by Marketplace and Edison Research.
The other blow is to the credit card industry. A court threw out a […]
