Can Bitcoin Possibly Go Up Forever?
5 Reasons Why It Might
Today has been a rough day for Bitcoin. The price went from 72k to 60k in a matter of hours. Diehard fans have been expecting a new All-time-high just before the halving but the markets are not having any of that.
Nevertheless, Bitcoin has been rallying lately — 50% year to date and 800% since last halving 4 years ago which is not bad, to say the least.
Surely no one can complain about this appreciation in the last few years. It has been the best-performing asset in the last 1,5,10 and 15 years bar none. Nothing comes even close.
From the first recorded price ($0.005) to the recent peak ($73k) BTC has appreciated a remarkable 14 million percent. Quite something.
But yes, the past is gone and the ship left the harbor never to return. However, could Bitcoin continue its phenomenal rise to the moon forever? Will it ever reach a plateau? And if so, when and more importantly, at what price?
Let’s have a look at the possibilities and the probabilities of this unusual asset and try to work out what the future might bring.
1. Scarcity
One of BTC’s main selling points is scarcity. With only 21 million and growing demand, it doesn’t take a genius to work out the potential…
