The main thing that differentiates Bitcoin from other Cryptocurrencies is its store of value. In the past, BTC was considered more of a stock than a store of value, but in the last 5 months it has kept its value above $10,000, which making it more of a safe haven asset like gold and making its adoption more than ever.
Bitcoin’s next target
If BTC stays as is it means above the $10,000 line until the presidential election in the United States so it can be predicted that Bitcoin’s next place will be $ 100,000, it has been almost more than 100 days above the line of $10,000 and does not lose its value these days even in the worst-case scenario of the Covid 19 pandemic which not only increases its attractiveness and increases the number of users and gained astronomical prices.
By studying the Bitcoin price history chart in-depth, we can see that it closed above $10,000 for almost 100 business days, according to Mr. Julio Moreno, an analysis of data from the providers of the digital platform CoinMetrics said that after from the analysis of one hundred trading days of Bitcoin pointed out that after trading at different prices, BTC not only maintains its value above but also increases part of its value, so we can say that it not only maintains its value but can cross the $100,000 line, to learn more about Bitcoin in detail visit trade with bitcoin rejoin.
Bitcoin price history
The Bitcoin price chart shows that it has held at the price of $ 10 for 100 days and just after 122 days it reached $100 and then, completing the next 100 days above $100, it jumped to $10,000 and now is close to completion. It’s 100 days above $10,000, so we can say that the next Bitcoin value will be $100,000.
The graph shows that Bitcoin has taken more than 100 days, while the change from $1,000 to $10,000 has taken almost 150 days, now Bitcoin has held its value above more than 95 days and its value is 31% higher than its key value. level, weekly newsletter The Tie reported in its latest addition that 2017 was the longest period to change the value of BTC or add another zero to its value when it crossed the value of $ 10,000 the first time and only a couple of days. before it reached its all-time highest value of $20,000, which was 79% of its key value and was the second-longest time period, The third interval happened in 2019, in that time the Bitcoin has traded its 20% range for more than 5 months.
Challenges for Bitcoin to maintain its value
There are many things that affect the prices of Bitcoin, some of them are external and some are internal, the first of them is its use as a store of value that depends on its use as a medium of exchange, it means that we cannot use anything as a store of value if it did not have a permanent or stable value, until a few days before Bitcoin faced the same condition because it had not managed to be a medium of exchange like any other store of value, for example, gold because it was not backed by any physical liquidity.
The utility and transfer of Bitcoin was very difficult but now almost easy because many banks and platforms will provide services for the exchange and purchase and sale of digital currencies, another provider of conventional payment services, PayPal will provide all kinds of services for Bitcoin and other currencies in which the user can exchange digital currency with local currencies.
In previous years, the thefts and fraud related to BTC were too much, but it has almost overcome these problems, but not completely, it is not a big thing because it is not only with BTC, the other currencies also faced fraud and theft, there are many countries that still do not want their peoples to participate in the Bitcoin race because they did not have good security or clear rules and regulations for cryptocurrency and Bitcoin all governments have a different point of view although having all these problems and issues Bitcoin has shown a most adoptive currency in the world.
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