The post Is There An Upper Limit To The Current Growth Of Bitcoin? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

In recent years, the value of bitcoin continues to gain popularity among the people and sets an “All-time high” every year.

Many well-known companies have announced support for the cryptocurrency, including the car manufacturer Tesla and Mastercard.

But the production of cryptocurrency requires huge energy costs, and this can become a serious obstacle to expanding the scope of its application. Some experts even believe that Bitcoin’s high energy intensity threatens its stability. 

Is there an upper limit to the growth of digital gold? There is currently no limit to the value of bitcoin. It could cost a million if it gets accepted.

The question is whether or not it will be accepted by the wider community, primarily by regulators and central banks.

The number of BTC is limited, it`s modulated in the very essence of the system and affects the price. The volume of the world gold market exceeds $8.2 trillion. If bitcoin can take only 10–15% of this market, then its price will be over $50.000, and if half, then all $200.000.

The volume of the global market for all fiat money is estimated at more than $31 trillion. If bitcoin hypothetically ever displaces fiat, then its value should be about $1.500.000.

If it takes only a tenth of this market, then its value will reach $150,000. No one can accurately predict how much bitcoin will cost even soon.

Various forecasts of the maximum value differ significantly – from $100,000 to $1.000.000. It is noteworthy that each time Bitcoin is corrected upwards. Just a year ago, the price of $69,000 seemed unreal, but it is already completed.

However, as BTC rises, the effort required to create and maintain it inevitably increases. The electricity used by miners in the vast majority of cases comes from environmentally polluted sources.

After conducting surveys among miners, experts found that about two-thirds of the energy consumed comes from fossil fuels.

President Biden’s chief economic adviser described bitcoin as an “extremely inefficient way to conduct transactions,” saying that “the amount of energy consumed in processing these transactions is overwhelming.”

Therefore, today it is necessary to channel investments in the right direction – choosing ecological crypto-mining on renewable energy sources.

This contributes to the accelerated mining without causing damage to the environment, which popularized the cryptocurrency even more. Such “eco-farms” began to rent out their capacities, and that was the birth of Cloud Mining. It is enough to have a smartphone and access to the

Internet because payment for mining contracts usually takes place in the cryptocurrency itself to make this type of passive income available to everyone.

The representative of green mining, the GreenHashes company, has gathered blockchain specialists to mine cryptocurrency in a “clean” way with help of wind, hydrogen, and solar energy. The company recently pre-ordered the latest Bonanza Mine ASICs from Intel.

It is enough to register on the company’s website, get acquainted with various types of contracts (they differ in duration, rented capacity, referral bonus level, and price – starting from $5), activate one of them, and watch the growth of the crypto wallet in your personal account.

All payments are made in BTC – this makes the network secure and allows any user around the globe to enjoy the benefits of cloud mining.