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Bitcoin Price Will Rise as Investor Demographics Change

Bitcoin investor demographics have changed and it might lead to a rise of the Bitcoin price. Bitcoin (BTC) has been fairly stable without forming any distinct trends. Other digital currencies such as Ether (ETH) and Chainlink (LINK) have performed better than Bitcoin, which has had the lowest volatility level since the end of 2018. There are some other factors too that some experts indicate when predicting the Bitcoin price going down. However, there are other factors that actually indicate a different outcome for the Bitcoin price. Stack Funds says that the investor demographics for the Bitcoin have shifted and it might actually bring the prices up again. According to the study, 50% of Bitcoin investors are millennials. Millennials who are just acquiring financial freedom might invest heavily in Bitcoin. Millennials are also more interested in acquiring digital assets. More Baby boomers invest in Bitcoin.

Customers want to have BTC as payment option while shopping or playing online

The iGaming industry and online shopping was already booming when the lockdowns made the digital world more popular. As people become more interested in digital assets, they consider paying with digital currencies for the goods acquired online or other online activities. The economies are digitizing and sooner or later the digital currencies will become as widely used as traditional money. Many active users of digital services would like to have an option to use BTC payment. That will benefit the online service providers too. Having more payment options means that the service will be accessible to more people. Real money casinos online which adopted BTC payments have more users than they had before. Adopting BTC is particularly profitable if an iGaming platform wants to attract international users. iGaming platform users want to have a safe and easy way for payment. Managing payments and each transaction from online casinos changed after adapting Bitcoin payments. Crypto entirely transformed the gaming industry as people tend to believe in safety and privacy of transactions. BTC payment is faster and easier than conventional money transactions are, which sometimes take days, while BTC payments can take only a couple of hours. The gamers are saving time when using the BTC payment option. There are also international currency exchange issues, which often happen when people use platforms from other countries.

Steve Forbes: Bitcoin and blockchain technology will eventually prevail

The president and editor-in-chief of Forbes Media, Steve Forbes, discussed the future of Bitcoin and generally the blockchain technology. Mr. Forbes thinks that the digital currencies are a “high tech cry” for help and a way to protect the economies against the economic problems such as the pandemic crisis and the central bank policies that cause inflation and make the situation worse. Despite his general praise of the digital currencies, he emphasized some mistakes that the blockchain industry has made, particularly the lack of stability. While one day the prices are high the next day they drop to the bottom and Mr. Forbes does not think it is wise to make a deal in these conditions. On the other hand, the greatest value of the cryptocurrencies might be that they allow the moving of values at low costs. He thinks that cryptocurrencies will eventually achieve stability and prevent the government from playing with peoples’ money. However, the fact that the Bitcoin supply will be more and more limited, said Mr. Forbes, will make the use of Bitcoin harder, which does not mean that its value will go up but might actually cause the opposite.

Nicole Madziwa

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