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How to make money with Bitcoin in 2020

How to make money with Bitcoin in 2020?

Bitcoin monetization is one of the ways to make money online. As you know, Bitcoin’s value has grown enormously over the years and is increasing day by day. With Bitcoin’s value has increased several thousand times over the past few years, many people are thinking about making money from Bitcoin. If you had invested only $ 5 million in Bitcoin in the year 2010, you would now have over $ 5 billion in the capital. This is an indication that Bitcoin is very valuable and is increasing day by day. Of course, the Bitcoin market has a lot of fluctuations.

 

How to earn it fast

Actually, there is no way as “earning Bitcoins fast”. If you are willing to step in the cryptocurrencies market and plan to invest in it, you’d better know that it takes time. Not only you should spend time getting the best results, but also you need to invest and improve your knowledge. So keep calm, take a deep breath and be patient because literally, there is no way to earn fast.

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Make money trading | Make money with Bitcoin in 2020

The launch of The Bakkt Warehouse has been postponed many times this year. By 48 hours after its launch, Bitcoin prices, known as the king of cryptocurrencies, raised more than 10 percent, resulting in a $ 400 price increase. However, after launching this new platform for enterprise investors, it experienced lower-than-expected trading volumes, which led to Bitcoin sales.

Of course, people still expect Bakkt to be a factor in bringing it back to its peak days. There are many reasons why Bakkt can surprise the Bitcoin community. In fact, Bakkt is the first Bitcoin futures trading platform that can bring a lot of liquidity to the Bitcoin market.

 

By providing futures contracts that are physically delivered with Bitcoin, the service can make Bitcoin more accepted in the traditional economic system. Bakkt is backed by Intercontinental Currency Exchange (ICE), and so it is highly likely to become a trusted, permanent futures platform for cryptocurrencies.

 

Predicting Bitcoin price in 2020

The lawless nature of cryptocurrencies’ market, can be seen as an important reason for preventing its continued growth. While Bitcoin is making a good profit for its investors, many corporate investors are still worried about stepping into a lawless territory and can’t trust it.

With the official launch of the Bakkt Federally Administered Legal Platform, it is more likely that great investors join the market cryptocurrencies’ market, which could lead to greater acceptance of Bitcoin and investors’ sentiment.

Bitcoin seems to be still in the early stages of acceptance, and only a small proportion of investors have entered the market deeply. The main goal now is to attract a larger mainstream audience. Establishing a legal framework to protect users and provide confidence for financial instruments, such as cryptocurrency ETFs, can be helpful.

Legislation can help eliminate the risks of bad deals in this industry and ultimately attract more corporate investors to the market.

 

Predicting Bitcoin 2020 Price due to Technology Advances

Further technological advances can also help to make Bitcoin more successful. Bitcoin use is too expensive right now, and cannot be a good and efficient alternative to traditional payment systems such as Visa Cards

However, developers are developing Lightning Network technology, which is designed to reduce the cost and time of Bitcoin payments.

In this new system, Bitcoin transactions are expected to take only a few seconds to perform and of course with lower fees. This can make Bitcoin attractive to both consumers and retailers, especially in e-commerce. In this way, Bitcoin can act like a PayPal account, which is a great payment method to buy from Amazon or eBay

 

Halving Bitcoin

It is expected that in May 2020, Halving Bitcoin or halving the extraction reward will be available. The event could also have a huge impact on it prices, reinforcing the prevailing view that 2020 could be the year of breaking the Bitcoin record.

We are all aware that Bitcoin production is not unlimited; only 21 million Bitcoins will be extracted in total. Bitcoin mining rewards are halved by solving every 210,000 blocks. Early in the creation of Bitcoin, the extractors received 50 Bitcoins for each block extracted, four years later the bonus was halved to 25 Bitcoins. Today, the extractors receive 12.5 Bitcoins to extract each block..

In May 2020, the extraction bonus per block reaches 6.25. As a result, the number of entering the market is reduced. Bitcoin demand is expected to rise, but the Bitcoin supply cannot move in line with demand. When demand exceeds supply, Bitcoin’s value will increase

 

Halving impact

Some traders agree that Bitcoin halving has a direct impact on its price. For example, the first Bitcoin halving took place in 2012, and a year after that, Bitcoin peaked. In 2017, a year after 2016 halving, the same situation was repeated..

But how is this possible? Most of the 1,800 Bitcoins that are extracted every day are sold directly by the miners because they want to recover the energy costs consumed. Once the reward is halved, Bitcoin’s supply will be much lower, which can have a positive impact on his prices

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Predicting Bitcoin price increasing rate of 2020

2019 has been a tremendous year for Bitcoin and its counterparts. However, in late September, the currency fell below $ 9,000 within 24 hours, experiencing a more than 15 percent decline in one hour.

Bitcoin conditions have been tough in recent months, but the top altcoins have suffered worse. Altcoins experienced a sharp fall, and cryptocurrencies with higher trading volumes, including Ethereum (ETH), Ripple (XRP), Lightcoin (LTC), Bitcoin Cash (BCH), EOS and other currencies, suffered double-digit losses. Crypto’s total market capitalization also dropped to $ 250 billion, down $ 10 billion

This sudden fall is likely due to technical issues, but analysts still believe prices will continue to rise. Bitcoin is currently trading for around $ 9300, and this can be a good opportunity for people who want to buy Bitcoin’s basic currency at its lowest price. At the time of this writing, Bitcoin is priced at around $ 9,336.26..

 

Bottom Line

Although bitcoin prices have always been volatile, most experts now predict that bitcoin prices will rise in 2020. Bitcoin is expected to hit a record $ 50,000 from 2020 to five years from now. Bitcoin is still a leader in cryptocurrencies and has held its position for many years.

 

With ExPay 24 you can convert your bitcoins to PayPal. In addition to bitcoin, you can have the same conversion for other currencies such as Ethereum, Webmoney, and Tether. You can also convert different types of currencies.

 

About Sean Patterson

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