We can anticipate a potential boom in the near future if the history of Bitcoin is any indication. Bitcoin increased from $1,000 to $20,000 in 2017. It dropped to $12,000 in 2020, increased to $63,000, and then decreased to $30,000 all in the same year. Then, in 2021, the price of BTC reached $69,000. Given these price trends (upward and downward), it is safe to say that Bitcoin will rise again, ideally very soon.

Small investors who rushed into the market in the hopes of quickly turning a profit drove each of Bitcoin's previous booms. Regulators, the general market, or bitcoin holders cashing out due to worries about the risks in the industry caused its subsequent crashes.

Critics claim that there is nothing but risk in trading cryptocurrency, but is there really anything in this world that isn't a risk? These patterns seem to be holding steady. However, there is hope that a practical system can be developed for investors, consumers, cryptocurrency businesses, and conventional banks if highly knowledgeable individuals set the tone for future regulations. Cryptocurrencies are therefore the currency of the future.

Read more on 17 Facts About Bitcoin That’ll Impress Your Friends.