Bitcoin: Widespread Adoption Could Drive Prices Much Higher

Summary

• Despite being hyped and talked about a lot, still very few people own Bitcoin, and even fewer use it regularly, as quantified estimates point to around 3 million active users.

• However, Bitcoin, its blockchain network, and the Lightning Network protocol have created a very efficient digital currency and payment system.

• In fact, an increasing number of companies are starting to accept Bitcoin, and numerous governments are now classifying Bitcoin as a form of money, and/or legitimate asset.

• It is likely that a lot more people become active users of Bitcoin in the future.

• Bitcoin's price could go much higher as widespread adoption may be just a matter of time.

Bitcoin's Path To Widespread Adoption

The world is a big place, unfortunately there are not that many Bitcoin (BTC-USD) to go around. Last winter we saw a prelude to what can happen when people in mass want to acquire Bitcoin, the price skyrockets. However, since then Bitcoin’s price has corrected by approximately 70%, and now that it’s close to production cost could represent a level much closer to fair value. Still though, the Bitcoin marketplace is a relatively small market, with almost exponential growth possibilities.

Great article by Victor Dergunov over at Seeking Alpha, link below

https://seekingalpha.com/article/4205641-bitcoin-widespread-adoption-drive-prices-much-higher