Some analysts are predicting Bitcoin's price to rise to $500,000 and beyond. As the “Blockchain and Cryptoasset Pre-Event” in early April 2019 showed, more and more professional asset managers and institutional advisors want to recommend the blockchain and cryptocurrencies as an asset investment. Bitcoins also continue to gain acceptance among more and more financial institutions. For example, the U.S. investment bank JPMorgan launched its own cryptocurrency, and in Swiss online retail, many customers can already shop with cryptocurrencies.

Bitcoins are no longer just nameless online coins used by computer nerds to make anonymous purchases on the Internet. Bitcoin trading is popular with both private investors and speculators, and the potential still seems great. The recent strong price movements and the sharp rise in the Bitcoin price after the Corona crash are proof of this in particular.

In El Salvador, the cryptocurrency Bitcoin has even been official currency since September 7, 2021. This makes El Salvador the first country in the world where it is possible to pay with Bitcoin. The Central American country is expecting a modernization boost from the introduction because it will make remittances possible without bank accounts. In April 2022, Panama also passed a bill on the use of crypto assets.

But: around the Bitcoin hype at the end of 2017, some critics saw Bitcoin as a risky investment, calling the main cryptocurrency “hot air.”

Ultimately, the Bitcoin price is regulated by supply and demand. And the demand for anonymous money like Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin & Co. continues to rise strongly. The reasons for this are, for example, the forward-looking blockchain technology, investing money in Bitcoin, and capital controls, which can be successfully circumvented with the help of cryptocurrency.