Bitcoin's future looks bright.
If you happened to have a nice stash of BTC tucked away in a wallet somewhere, you've probably made some decent profits within the last 40 days. That's because of the huge surge of BTC prices last December to close out 2016. Despite what many of the popular cryptocurrency's critics said, BTC came very close to its previous high of $1,163 that was set in November 2013. It reached a price of $1,139 on Jan 1st 2017, before dropping back down to around $750 per BTC.
Savvy investors had lots of opportunities to take profits and then buy more BTC at lower prices when the price – predictably – dropped.
So what does that mean for the future of BTC?
It means price projections that were once deemed too optimistic are increasingly close to becoming a reality. It's quite possible that BTC's price will reach $2,000 within the next year or so. Matter of fact, the price could easily reach $4,000-$10,000 per BTC within the next few years.
That means there still lots of money to be made as an increasing number of people around the world learn about the world's first widely-adopted digital currency. With the ever-increasing demand for BTC, the price will continue to rise as it has in the past couple of years.
If BTC reaches its full potential and becomes a major currency around the world, when it reaches its production limit of 21 million BTC in circulation, prices will rise astronomically. The last BTC is expected to be mined in 2140. Of course, none of us reading this will see that day, but the great grand kids will.
The possibilities are endless. While BTC has already turned many of those who invested in it during the early days into millionaires, many of the new entrants into the BTC market, or even years from now, will likely be able to call themselves BTC millionaires as well sometime in the future.