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10 Reasons Why The Price of Bitcoins Will Steadily Increase 50% Next year4 min read

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Cryptocurrency is the future, and the future is already here. The following is a list of 10 reasons we see the price of bitcoin tripling or possibly going even higher in the coming mid to long term!
1.    The growing demands on bitcoin and cryptocurrency payment services by the unbanked.  Take the $20 billion Marijuana industry for example.  It is an industry that operates primarily on cash since that Federal Law still classifies Marijuana as an illegal drug, so banks will not work with these legal by state businesses.  What if all these businesses started turning to bitcoin as there banking solution?  We also have the fact that worldwide, there are over 2.5billion people who are unbanked due to lack of proper ID and a trustworthy and functioning domestic banking system.  Bitcoins, which can be easily used with a mobile device, could be the solution for billions of people who don’t have access to proper banking.  This can cause steady upward pressure on the price of bitcoin as its demand and usage continues to grow exponentially with this population.
2.    The creation of a Bitcoin ETF would change everything.  It would create a funnel for the flow of new investment money.  Look at the Gold ETF in comparison, which generated $9 MM purchase per day… we thought that was incredible!  The less popular oil ETF only generated $4 MM purchases of oil per day.  The entire USD / BTC market is currently averaging $10 MM per day in 2016.  Industry analysts estimate that it’s only possible to purchase $1.7 of new BTC a day without raising the price.  It seems kind of high to us.  But if a Bitcoin ETF were to come online it would surely create a bitcoin bubble.  
4.    Bitcoins becomes easier access to purchase in ALL countries globally particularly where more banking services are needed. It is speculated that bitcoin is most needed by countries such as Egypt, Venezuela, India where it is currently difficult to get.
5.    As long as the world continues to go through struggle with fiat currency, central banking and government insolvency, with an increasing number of bank failures, the people of the world are surely to continue to migrate a higher percentage of their finances over to bitcoin.  Quantitative easing is apparently not going away, India is eliminating paper currency, Sweden wants to become a cashless society, Argentina is plagued by inflation, the Chinese keep playing currency wars by devaluing their Yuan, the failure of Germany’s Deutsche Bank… all these events add up to create a greater confidence in bitcoin as safe store of value.
6.    Bitcoins becomes the solution for remittance and cross border banking transactions. Even though the starting sample is small, this use for bitcoin is already growing exponentially year over year. This would really require a massive widespread adoption for it to have upwards impact on the price of bitcoin.
7.    Most countries of the world are horrible managers of their own currency.  That’s why countries like Panama and El Salvador have already given up on the whole idea and just use USD.  What if even just one of the 190 countries on Earth were to designate bitcoin as legal tender or payment for all needs?  To put this in perspective consider the market capitalization of some different countries around the world.  The 55th largest country is issued by New Zealand who has a money supply of $105 billion which is about ten times the size of bitcoin’s current market cap.  China’s money supply is $20 Trillion which is 1800 times greater than Bitcoin.  Bitcoin’s market capitalization today is most closely comparable to that of Cambodia and Ghana combined at roughly $11 billion.  There is still such incredible growth left for bitcoin on the journey to becoming fully mainstream globally.
8.    If Bitcoin becomes the replacement solution over credit card processors Visa, Mastercard and American Express [who charge high transaction fees], Bitcoin would be worth almost $17,000 per coin… based on the fact that the combined market of these three credit providers is about $350 billion.  Bitcoin is steadily growing, but not even close to garnering similar market share to these credit issuing giants.
9.    Bitcoin increases in demand for use in crowdfunding and investment funding. This is actually already happening right now In 2016.  There have already been countless ICO funded startups that are using bitcoin and/or ethereum to fundraise multi-millions.
 
10.The development of a new coin which leverages the bitcoin blockchain but has all the scalability built in with improved transaction speeds. Bitcoin would become an ‘under the hood’ logistic for many apps, where the end user may not even be aware that they are actually using BTC.

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