As of late, Bitcoin has been on a bit of a roller coaster ride. After hitting an all-time high in December of 2017, the digital currency has taken a bit of a tumble, and many investors are wondering if it will ever recover.
Only time will tell, but here are a few things that could help Bitcoin make a comeback.
First and foremost, it’s important to remember that Bitcoin is still in its infancy. It was only created in 2009, and it’s still not widely accepted as a form of payment.
As more and more businesses start to accept Bitcoin as payment, its value is sure to increase.
Secondly, there’s no denying that the recent crackdown on cryptocurrency exchanges in China has had an impact on the price of Bitcoin. However, it’s worth noting that China only accounts for about 10 percent of the global Bitcoin market.
So even if the Chinese exchanges stay shut down, there’s still a lot of room for growth elsewhere.
And finally, one of the biggest things working in Bitcoin’s favor is the fact that there’s a limited supply. There will only ever be 21 million Bitcoins mined, and as demand increases, so will the price.
So while the future of Bitcoin is impossible to predict, there are certainly some factors working in its favor. Only time will tell if it will make a full recovery, but there’s reason to believe that it will.