What is Next for Bitcoin

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What is next for Bitcoin

Currently, Bitcoin is recovering after an extended bear market brought on by a surge in price throughout 2017 and into early 2018. Today the market is as strong as ever as we see a recovery from the lows skimming the $3,000 levels back to just shy of the $9,000 level as of June 2019.

Bitcoin has proven itself to be a resilient asset. It has withstood the test of time, failures, bear markets, severe retracements, numerous hacks, and political debauchery.

On the flipside, Bitcoin still has a long way to go before it is globally adopted as a useable currency for the masses. There are several projects heading these endeavors similar to the lightning network, sidechains, and other layer 2 protocols. Although, none have been enormously successful, the search continues for the golden nugget.

For this article, I want to dig into what are some of the current events surrounding Bitcoin, what is next for Bitcoin, and some ways you can profit from these scenarios.

Bitcoin Current Events

Currently, we are approaching the end of Q2 2019. Bitcoin has been recovering out of the 2018 bear market and finally is breaking ground slowly approaching the psychological $10,000 levels. If Bitcoin can breach this level, we should see a shift in the market even more. Currently, the price of Bitcoin is hovering between $8,000 and $9,000, but we all know that changes fast.

This is not as important as the current adoption that has been happening globally. Microsoft, as silly as this is, will add the Bitcoin symbol to their upcoming Excel sheets which ironically is big news. Bitcoin is now an icon if anything.

Reaching as it may, that is far from the only bullish new surrounding the current market standings. The SEC has been continually dragging their feet intentionally to slow the pace of this emerging asset class. No one truly knows why, but it could be assumed that is has a strong correlation with bank relationships, high authority influence, and a personal view effecting them from doing their job properly. Regardless of the true reason, they can not hold out for long.

There is an increase in speculation of Bakkt finally launching their platform. Additionally, Binance will be launching their margin trading which should excite the day traders. In addition, the current surge in BTC price is leading new money to enter the market, which will ultimately continue to solidify cryptocurrency as a reputable asset class.

What is Next For Bitcoin

Bitcoin has lived many lives, had many developers, and gone through many changes. The Bitcoin core team is a strong group of dedicated programmers paving the way of the future. What could be next then for Bitcoin? To put it easily, no one really knows. Any advancement or change in the coding must be agreed upon by all of the miners and governing bodies. This decentralized asset must also be updated fundamentally in a decentralized way which can make things difficult.

Difficult might be a strong word to use here, as it is more like complex. Typically, when a new update comes out there can tend to be some disagreements. Historically this has lead to the creation of Bitcoin Cash lead by Roger Ver which now ultimately lead to Bitcoin SV lead by his highness princess Craig Wright.

With such extremes, it is hard to pinpoint what will come next for the grandfather BTC. We can assume a few things though. Bitcoin will need to have side chain or some sort of efficient and adopted layer 2 protocol to effectively be used as a payment system. There are several solutions to this already in play like the Lightning network, but there is work to be done.

Moving further into the use cases and development of BTC, we will start to see changes become harder to make. The mining pool will start to get even more cluttered, and any changes to the core protocol will become more complex as we grow as an industry. As larger companies start to dip their toes into the waters, they too will want to have a vote at the poll. A decentralized currency for all, could end up becoming a decentralized currency from all if there are too many cooks in the kitchen.

Ways To Profit off of Bitcoin

As things continue to heat up over development, market sentiment, and adoption, are there ways to make money? Clearly, the answer is a resounding yes. There are countless way to profit off of Bitcoin. Some of these way include:

  1. Day Trade the currency
  2. Hold the currency long-term
  3. Build a business model around selling or buying Bitcoin (Broker)
  4. Enable Bitcoin payments for your business
  5. Develop an app or product that utilizes Bitcoin for a solution
  6. Build a Bitcoin Gateway and market it
  7. Build or sell wallets for Bitcoin to be stored in
  8. Educated people on Bitcoin by offering classes for sale
  9. Write about Bitcoin online and build your audience to monetize products
  10. Build a product that manages trades or enables users to make smarter trades
  11. Develop trading bots and algorithms for better tracking the price of Bitcoin
  12. Become a custodian
  13. Offer options, derivatives or futures as a company
  14. Become a dealer for Cryptocurrency
  15. Learn enough to be a Professional on Bitcoin and consult companies in this space
  16. Become a niche investor for Bitcoin based companies or startups (Venture Capitalist)
  17. If you are a lawyer, specialize on digital assets and SEC regulations
  18. Offer headhunter services if you have the network

This is just a quick list of all the ways you can profit off of Bitcoin, or the market surrounding Bitcoin. Like I mentioned, there are countless way and the list could go on and on. Find where your talents or situation fits into the market, and capitalize on the market while it is still young. Lay your claim to crypto, Bitcoin and blockchain.