What Could Bitcoin Become By 2030? – Tech Tribune France

To this day, many people are unsure whether Bitcoin is a currency, an asset like listed stocks, or a rare commodity like gold. The cryptocurrency, generally considered the very first, began its journey in 2009. Nearly 13 years after its launch, Bitcoin’s future is unclear.

Many expect it to be a few more years before things become clear about the future of Bitcoin and the global cryptocurrency world. Today, let’s explore what Bitcoin could become by 2030. However, we do not predict the price of Bitcoin, which is so unpredictable that it can change very drastically within hours.

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Will Bitcoin gain a wider reach, or will there be more penalties?

Bitcoin and its counterpart virtual currencies like Ether and Dogecoin are not yet properly regulated in most countries. In the United States, it is unclear whether the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), or the Federal Reserve would have overall regulatory authority over Bitcoin. There are rumors that powers could be divided between the SEC and the CFTC in such a way that one regulates larger assets like Bitcoin and Ether while the other oversees smaller altcoins.

Bitcoin already has a very wide reach. However, its trading as a speculative asset is mostly limited to exchanges like Coinbase and Binance, which are embroiled in a tussle with regulators. Once agencies like the SEC in the United States and the Australian Securities and Investments Commission (ASIC) in Australia have come up with a detailed and clear approach to cryptocurrency regulation, it is possible that mainstream players like the most major exchanges list some big cryptos. .

On the other hand, China, which is the world’s second largest economy after the United States, has already banned Bitcoin. In 2022, the collapse of Terra and the losses suffered by investors have renewed the call for other countries to also take tough action against cryptocurrency trading. By 2030, it might become clear whether most countries want to regulate Bitcoin or impose tougher restrictions on it.

Will Ether overtake Bitcoin?

One of the most talked about events this year in the cryptocurrency world has been the “merger”. With its move to the proof-of-stake model, Ethereum’s blockchain network would have become less energy-intensive. Bitcoin, on the other hand, functions as a proof-of-work cryptocurrency, which consumes a lot of electricity to record transactions on the network. However, the Merge event could not add much value to the Ether cryptocurrency price, and there was no change in Bitcoin’s overall dominance.

By 2030, it might become clear if there is an altcoin that can replace Bitcoin from its top spot in the cryptocurrency world. Even though Bitcoin’s share as the #1 cryptocurrency has dropped over the past few years, it still accounts for 40% of the crypto world’s total market capitalization. Many also predict that over time, only a few major cryptos like Bitcoin might survive, while smaller ones like meme tokens would disappear.

Data provided by CoinMarketCap.com

At the end of the line

By the end of this decade, things like how Bitcoin would be regulated and whether it could become a currency with wider use in the global payment system might become clear. It was only last year that one country, El Salvador, decided to adopt Bitcoin as legal tender. If in the next few years Bitcoin fails to attract more takers like El Salvador, it could end up becoming just a speculative asset. There is also a threat from the development of central banks’ own virtual currencies. Finally, over the next few years, we may also know if Ether or another asset can become bigger than Bitcoin.

Risk Disclosure: Trading cryptocurrencies involves high risks, including the risk of losing some or all of the amount of your investment, and may not be suitable for all investors. Cryptocurrency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade financial instruments or cryptocurrencies, you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience and appetite for the risk, and seek professional advice if necessary. Kalkine Media cannot represent and does not warrant that the information/data available here is accurate, reliable, current, complete, or appropriate for your purposes. Kalkine Media will not accept any responsibility for any loss or damage resulting from your interactions or your reliance on the information shared on this website.

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What Could Bitcoin Become By 2030? – Tech Tribune France


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