Which factors influence the future of Bitcoin?

With the experts divided into different positions, it is almost impossible to make a plausible forecast.

The cryptocurrency is, par excellence, the most recognized electronic currency in the world, the popular Bitcoin. The forms with which to name one of the most important phenomena of the technological world of the 21st century are beginning to run out and, however, it is still an extremely difficult task to predict, at least, the future of the BTC.

What is going to happen with this cryptocurrency within a year? What will happen in next month?

The answers can be numerous. Some experts in the monetary and financial sector show their total confidence in electronic currencies and others affirm that “their value will be zero”.

Thus, with the experts divided into positions so distant from each other, it is almost impossible to make a sure forecast. Therefore, little more can be done than talking about the factors that can have an influence on the future of the BTC. We analyze some of them.

The trust of the investment community

Without a doubt, this is the most important point for the future of Bitcoin and any other cryptocurrency based on a decentralized system. Provided they have the confidence of investors, the price of these cryptocurrencies will not suffer sharp drops or sudden declines.

For example, and in spite of the drops suffered since the records reached during the month of December, the value of Bitcoin remains above the 6,000 dollars, a mark that would have been a maximum historical valuation only one year ago. As long as it continues to have this kind of support, it is clear that if the BTC’s future does not happen for a reason, it is due to a sudden and total devaluation.

The stance of parastatal states and organizations

The renowned Massachusetts Institute of Technology (MIT) released a study a few weeks ago about the three ways in which Bitcoin could end up. The first they mentioned, of course, was to establish a certain type of government control over the cryptocurrency sector.

According to MIT, the US Federal Reserve could create an agency specialized in the control of cryptocurrencies or even market their own electronic currency. In this way, and if successful, the US government could end up with one of the most characteristic features of Bitcoin – and many other cryptocurrencies such as Litecoin, Ethereum, or Bitcoin Cash – its decentralized system.

This allows the aforementioned cryptocurrencies not to be governed by a central organ, but rather follow an anarchic system and in which decisions are made according to the community. Something that the guardians of the current economic system do not like at all.

Are Facebook and other technology companies willing to take out their crypto?

If there is any company in the world that can create its own cryptocurrency with a capacity to deal with Bitcoin, it would be necessary to look for them in the North American technological sector. Facebook, Google, or Amazon have a sufficient number of loyal users so that, at least, their options deserve to be taken into account.

Now, to what extent are you interested in this type of firms creating their own electronic currency? While Amazon-like organizations, focused on online shopping, could be interested in a product of this style, it is not clear what the benefits of Facebook or Google would be. However, what is beyond doubt is its ability to drag users.

The blockchain: an independent future?

We must also bear in mind that the future of Bitcoin does not end with the value of its cryptocurrency or future uses that it may have. Already, in these same moments, the blockchain system is of supine importance, and one of the most outstanding non-tangible values ​​of the technological world.

So, when talking about the factors that influence the future of all cryptocurrencies and, especially, Bitcoin, we can not forget about external factors such as governments, users, or the performance of the world’s major companies in this sector. But, not at all, we can forget the technological value that accompanies this monetary product, as much or more important than its punctual prices.