The billionaires have a massive impact on almost everything, don’t you think so? For example, Elon Musk said that Tesla would accept Bitcoin, and when he took a u-turn on Bitcoin after a few months of hyping it up, it crashed big time.
A few days back, El Salvador declared Bitcoin as the legal tender. While Bill Gates cited that Bitcoin isn't environmentally friendly, it uses a tremendous amount of electricity. Well, he's not wrong. So now, what should the common people do and how does the future of Bitcoin look like?
The Boom in Cryptocurrency
At present, the financial facets of the economy have become extremely complex. The emergence of crypto is relatively recent in the global economic picture. A cryptocurrency is a digital asset designed to work as a medium of exchange. Individual coin ownership records are maintained in a ledger that exists in a computerised database employing strong cryptography.
Bitcoin was first released as open-source software in January 2009 and was also the first decentralised cryptocurrency. Recently, we also predicted how the planetary picture looks like for Dogecoin.
Bitcoin Meaning & Where it Stands
Satoshi Nakamoto, the mysterious and pseudonymous creator of Bitcoin, outlined his views in a whitepaper. Bitcoin promised lower transaction fees to the holders. In contrast to the existing online payment methods, it is controlled by a decentralised authority, unlike government-issued currencies. "BTC" is a frequent abbreviation used for Bitcoin.
There are no physical bitcoins; only balances kept on a public ledger that is transparent and that each individual has access to. A significant amount of computational power is used to verify every bitcoin transaction. Because any bank or government body does not back these cryptocurrencies, individual bitcoins are not treated as valuable commodities. Despite the fact that Bitcoin is not legal cash in most parts of the world, it is extremely popular and trendy, which has sparked hundreds of rival cryptocurrencies known as altcoins.
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Future Predictions for Bitcoin
Over the last few years, Bitcoin has performed admirably. However, we have no idea how things will turn out in the years ahead. Everybody is curious as to how Bitcoin will perform in the days to come. What will be the future of this cryptocurrency as the world is gradually recovering from the pandemic? Here are a few Bitcoin predictions:
Challenges Foreseen For Bitcoin
According to the Solar Horoscope of Bitcoin, Saturn passes through the House of Finance, where Mercury, Jupiter, and Rahu are already residing. This may cause some challenges and increase the fluctuation and volatility from 26 July 2021 to 6 January 2022, wherein Bitcoin holders will have to be very careful.
To overcome challenges due to Saturn transit, Check your Saturn Transit Report.
Bitcoin May Face Government Issues
Apart from the obstacles in the finance house, there can be some government-related issues. From 5 July 2022 to 26 August 2022, it's party time for Saturn, Rahu, and Sun antardasha. Now that we are talking business and legal tenders, it is not so easygoing.
Uncertainty For Bitcoin Will Continue
The most crucial phase for everyone will mostly be after 7 May 2022. Uncertainty is likely to prevail till there is any sort of confirmation. So it's difficult to predict what the future holds for Bitcoin.
Verdict: Bitcoin May Continue To Face Problems
Overall, because Rahu is in the Finance house of Bitcoin, Jupiter will have a malefic impact, and the presence of Saturn in the house of destiny will slow down the entire horoscope, causing delays and hurdles in any legal work that needs to be done. As a result, Bitcoin may encounter problems.
Hence, Bitcoin is expected to have a bumpy ride in the months ahead.
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With Ganesha's Grace,
The GaneshaSpeaks.com Team
Astrologers trained by Shri Bejan Daruwalla.