Bitcoin future review 2020 – Latest guide

Are you looking for the Bitcoin future review 2020 and wondering how the coin is going to perform in 2020? If your answer is yes, then I am here to help you out. In this article, I am going to talk about the 2020 prediction for Bitcoin.

In this article, I will first start by giving you a brief description of what Bitcoin actually is. And in the later half of the article, I will talk about the Bitcoin future review 2020. Sounds interesting? So let’s just head into the topic without wasting much of the time:

What is bitcoin?

Bitcoin was created in 2009 by an anonymous developer named Satoshi Nakamoto. And it was the first and original cryptocurrency. Bitcoin allows people to send and receive funds without a third party intermediary, such as a centralized payment system. Instead, it is a decentralized network.

The network is controlled by not a single person or authority. Neither it is backed by any central bank. Instead, the transactions are verified by a community of miners who use their computing powers to confirm the movement of funds. And in return, they are rewarded with additional Bitcoin for contributing to the network.

The technology that supports Bitcoin is called a blockchain, which is like a giant accounting book. Every single transaction that has ever been processed on the Bitcoin network is available to view on the blockchain. Also, once a transaction has been added, it cannot be changed or removed. And this is what makes it extremely transparent.

Also, when sending Bitcoin to another person, a transaction normally takes about 10 minutes. And the network can process about 7 transactions per second, and the fees depend on how many people are using the system.

Bitcoin future review 2020

McAfee

The first bitcoin prediction that I would like to talk about is made by John McAfee, the creator of the popular anti-virus software McAfee. He is pretty well known in the crypto industry as he makes lots of insane price predictions on Twitter.

Back in the days, he said that Bitcoin would reach $500,000 in 2020. However, later, he said that by 2020, it would hit $1 million. Also, he mentioned that this prediction is based on his own price prediction model.

Tom Lee

Next, there is Tom Lee. The next bitcoin price prediction 2020 that I wanted to discuss is by an analyst called Tom Lee. Lee works for the cryptocurrency research organization Fundstrat, and he is well-known for discussing the price performance of Bitcoin live on TV. According to his prediction, the price of Bitcoin will be valued at $91,000.

Fran Strajnar

 Next, there is Fran Strajnar, who is the CEO of Brave New Coin, a cryptocurrency research organization. And according to him, the bitcoin will reach up to $200,000 by the year 2020. According to him, as more and more people coming to the crypto industry, it would grow different wallets and apps and eventually hit the bitcoin price too.

How to get rich by investing in bitcoin exchange?

So you want to become rich by investing Bitcoin? If your answer is yes, then I am here to help you out. Becoming rich by investing in bitcoin is not really a bad idea. In fact, there are quite a lot of bitcoin millionaires that exists on this planet. So the question is how to get rich by investing in bitcoin exchange?

Well, in this article, I am going to talk about how can you get started with Bitcoin and walk on the way to become a bitcoin millionaire. So let’s just head into the topic without wasting much of the time:

How to get rich by investing in bitcoin exchange?

Buying Bitcoin

Trust me, by buying bitcoin, you can only get rich. There are quite a lot of people out there who invest in Bitcoin by simply buying it. Although this is a risky method, but it is one of the simplest ways available out there.

There are a couple of types of investors are available. Some just buy a certain quantity of bitcoins and forgets about it for a year. This kind of investor does not have a short term goal. But they want to hold it for years and years and after Bitcoin bursts into something big. So they can make huge profits at once.

Another type of Bitcoin investors are those people who do a lot of research, reads all of the available predictions on how to make money with cryptocurrency, and spends weeks to analyze data and statistics. And this kind of person has a very specific time frame in their mind. You can also make trade futures for different bitcoins or even altcoins like trading ethereum or BNB coin.

And most of the time, they look for short term goals. Also, these investments tend to be smaller when compared to long-term ones. As time limit is short, hence there is a risk that the Bitcoin might fall and the investor has to face more loss. As a result, investing a small amount of money is always a good idea. So the loss would not be a huge one.

Accept Payment in Bitcoin

You can also try accepting payments in bitcoin. If you are running an online business or going to get money from someone, your friend, or an international client, you may consider getting payment in Bitcoin.

For example, there is a website available there called Fiverr, where you can hire people for doing certain things. And they get paid in USD. But you can take this concept and replace USD with bitcoins. Here is how can you get started with this:

Think of a skill you are good at:

Do you have any skills that you can sell? This could be anything like copyrighting, digital marketing, website development, and so on. And once you know what your skill is, think about how can you monetize it.

Create a cryptocurrency wallet:

The next step is to create a cryptocurrency wallet. A crypto coin wallet holds your cryptocurrencies safe and ready to use. It is just like any other wallet that holds physical money. And in case if you do not have one, it is recommended that you create one right way.

Find a way to charge people:

Next, you have to find a good way to charge people. You can offer your services via an online marketplace, forums, and when you get a deal from anywhere. Simply ask if your client makes the payment in Bitcoins or not.

Mining

The last thing that you can do is Mining. It is one of the most popular ways to get rich through Bitcoin. There are two types of Mining. One is your own personal mining or cloud mining.

And if you want to mine individually, it might not be the best way. As it will be an expensive process for you. Also, Bitcoin is one of the toughest cryptocurrencies to mine.

However, you can consider going for cloud mining. This one is also getting widely popular these days. And it works as a great alternative when it comes to minding industry. Plus, it is less expensive too. You do not need to buy hardware or software or assemble any machine. Simply purchase cloud mining services from some companies, and the rest will be handled by them only.

Overall, cryptocurrency mining is a very popular method for people searching on how to make money with Bitcoin. It does require some knowledge and expertise in the field to be able to perform it successfully. And I would recommend you to do proper research before entering into this field.

Final Words:

So that was the answer to your how to get rich by investing in bitcoin exchange questions. Now go ahead and check these options out and see which one is working the best for you. Also, for any questions, do comment below.