Reasons Why The Future Of Bitcoin Is Complicated

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Even a year before, Bitcoin seemed to be on a roll. The price of the same was increasing quite massively and people were getting more and more involved in it.

But, then, the phase just poofed off. And, from December 2021 onwards, we began to see a dip in the price of the BTC. Unfortunately, we don’t think it will change anytime soon.

Let’s discuss a little about it, then.

Why BTC’s Future Seems Complicated?

The main reason behind BTC’s complicated future is surely the volatility it comes with since the beginning. Also, the issue of not being regulated by anyone and the overall security of the market as a whole is quite a headache. 

However, if you want, you can take care of this problem pretty easily by using a safe platform like BitAlpha AI. Get to their website to know more about it.

Although it can take care of the security issues, it won’t be able to cure the following issues that are affecting the future of Bitcoin.

Problem - 1: The Rise Of A Worthy Opponent… Or Two

For quite a long time, Bitcoin was the only prominent player in the market. But, if you look at the market in today’s world, you might find more than one coin battling against each other.

For example, Ether, although launched in 2015, has become quite popular in the market due to Ethereum's immense potential. Apart from this, Stablecoins are becoming popular too.

Although the story of Dogecoin is a joke, it's getting everyone’s attention as well. As people have too many cheaper options in the market, most of them aren’t opting for BTC anymore.

Problem - 2: NFTs.

For those who aren’t aware of the term, NFTs are all about offering a visual aspect, unlike a Cryptocurrency. Hence, they mostly appear as a GIF, image, or any other concise format.

Because of this reason, people consider it to be more interesting Crypto as a whole. We mean, take the Bored Ape NFT of Post Malone. They’ve been sold for over USD 700,000.

And, the way NFT usage is increasing, you can expect it to be more popular than Bitcoin in recent years. Hopefully, it’ll live up to its mesmerizing potential.

Problem - 3: The Evolution Of Stablecoin

The concept of Stablecoins is pretty interesting. They tend to work almost like a Crypto. 

But, they, as their name suggests, are much more stable and, therefore, can defy the volatility of the market. Therefore, even if you invest a huge amount of money in them, the chance of losing everything will be close to zero.

However, the opportunity of making a massive profit out of it quickly might also be an issue here. Nonetheless, it still seems like a much better prospect than Bitcoin, to be honest.

Problem - 4: No More Mining.

In 2009, after Bitcoin was announced, it was said that it’ll come with a whopping twenty-one million coins. And, you can acquire all of them via mining.

When the process is completed, the coin will become much stabler than before.

However, standing in 2022, almost 90% of Bitcoins have already been mined. And, the more you wait, the less mining options will be available there.

Hence, as you can see, the potential to grow in the market has become quite low here. So, it’s become pretty much uninteresting to people throughout the whole world.

Problem - 5: Security Problem.

Yes, Bitcoin has, indeed, been made on the blockchain technology, which was quite safe and secure once upon a time. However, as of yet, it’s been hacked quite a few times already.

Hence, the security of the same, especially in 2022, looks quite questionable. 

Additionally, if someone hacks the server somehow, millions of people will face a huge loss of money. And, that’s quite a fiery risk to play with, to be honest. 

Due to this reason, the prospect of BTC is looking leaner and leaner every passing day!

Final Thoughts

So, there you go.

That’ll be all for this article. 

Hopefully, we could convey the message you were expecting from this blog. However, if you still have any queries, comment below. 

We’ll look through them and answer you as soon as we can.