Experts do not stint on forecasts about bitcoin, the world's most popular cryptocurrency. Some predict it will soon collapse, calling it a bubble, while others forecast amazing growth prospects for it. However, after the price of bitcoin has smashed through $5,000 recently, some economists' recommendations are worth listening to. It is possible that bitcoin price could skyrocket to $6,000 and even higher. Let's consider some factors that could contribute to this scenario.
Bitcoin seeing unprecedented surge in interest
Digital assets that compose the global cryptocurrency ecosystem have very well progressed in terms of carving out their own individual niches. Initial coin offerings (ICOs) are taking place all over the world. Vast amounts of money are being spent on cryptocurrencies. Bitcoin have not lost interest in it even on the back of the Chinese government clamping down on virtual currency activity.
Safe-haven asset
According to experts, the financial crisis will not ruin the most popular cryptocurrency. Bitcoin is considered a safe-haven asset, not affected by traditional market factors.
Wall Street embracing bitcoin
Big Wall Street firms have embraced bitcoin. However, there are also some that are not cryptocurrency fans. Still, they are about to become a minority.
Bitcoin Gold being rolled out
The bitcoin blockchain is set to hard fork and create a new cryptocurrency called Bitcoin Gold (BTG) by late October – early November. Existing private keys holding a Bitcoin balance at that time will be credited with the same amount of Bitcoin Gold.
Economic inequality remains one of the most pressing issues in today's world. To measure the gap between the rich and the poor in each country, the Gini index is used. This coefficient reflects how income is distributed within a society: the closer the index is to 100, the greater the inequality. Let's explore which countries currently have the highest Gini index values
This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
Analytical periodical US News and World Report has presented its ranking of the best countries in the world in terms of quality of life, based on a survey of nearly 17,000 people. The list considers factors such as economic and political stability, a strong labor market, income equality, family-friendliness, safety, the quality of education, and healthcare systems. Let's find out which countries made it to the top of this list.
