Bitcoin (BTC) Will Likely Be Used as a 'Currency' Around 2030, Predicts CryptoQuant CEO Ki Young Ju

After Bitcoin's 2028 halving, which reduces volatility, he expects this shift, leading to discussions about Bitcoin as a peer-to-peer currency.

CryptoQuant CEO Ki Young Ju predicts that Bitcoin could be largely used as a currency by 2030.

After the 2028 Bitcoin halving, which will reduce volatility, Ju expects this shift, leading to discussions about Bitcoin as a peer-to-peer currency.

According to Ju’s forecast, the rise in institutional involvement will stabilize Bitcoin’s price and decrease the volatility of the coin over time.

Bitcoin Mining Difficulty Soars as Institutional Players Dominate

Bitcoin’s mining difficulty has increased by 3785% over the past three years as more miners compete.

Back in 2009, mining a personal computer could generate 50 BTC, but now institutional players dominate the industry.

Recently, large companies have taken over mining, making barriers for individual miners higher and mining less accessible.

This institutional involvement is driving significant changes, with increasing investment in mining infrastructure.

Ju believes that this will gradually decrease the volatility of BTC, making it more appropriate as a currency. According to him, a major shift in Bitcoin utility may be spurred by the next halving in 2028.

The Role of Stablecoins and Blockchain in BTC’s Future

Ki Young Ju also highlighted the importance of blockchain wallets and stablecoins for Bitcoin’s development.

With Stripe entering the stablecoin market, mass adoption is expected within the next three years.

This will likely integrate stablecoins and BTC further, pushing Bitcoin’s use as a currency.

Ju believes that fintech will play an important role in the adoption of stablecoins as regulations shape. It might occur through protocol improvements, Layer 2 (L2) networks, or Wrapped Bitcoin.

However, he suggests that this ecosystem development will enhance Bitcoin’s usability and stability, positioning it as a functional currency.

Since stablecoins have a low volatility, they can supplement Bitcoin being used in everyday transaction uses. By 2028, such progress could bring BTC one more step closer to its original aim as peer-to-peer electronic cash, as envisioned by its creator, Satoshi Nakamoto. Ju sees this trend unfolding over the next decade as the crypto space continues to mature.

BTC Technical Analysis Shows Continued Uptrend

According to TradingView stats, BTC is trading at $67,022.27 at the time of writing, showing a 0.70% increase over the last 24 hours.

The price has been trending steadily upwards with strong bullish momentum after rebounding from recent lows near $50,000. The current resistance level is at $67,500 while the support is at $66,000.

But if Bitcoin manages to cross over $67,500, it can continue its northbound journey, perhaps even targeting $70,000. This current price momentum would be sustained if the $66,000 support is held.

Analysts Predict BTC Could Reach $200,000 by 2025

Research firm Bernstein is still bullish on Bitcoin, expecting the cryptocurrency to reach $200,000 by the end of 2025.

But digital assets lead at Bernstein, Gautam Chhugani, said the $200,000 metric is ‘conservative’ considering Bitcoin’s limited supply and rising levels of U.S. debt.

He advised skeptics to reconsider their stance, citing the strong institutional backing and growing acceptance of digital assets.

Chhugani added that Bitcoin’s supply is fixed. Unlike fiat currencies which are subject to inflationary pressures. This limited supply, combined with rising demand from institutional investors, supports Bernstein’s high price target.

The above is the detailed content of Bitcoin (BTC) Will Likely Be Used as a 'Currency' Around 2030, Predicts CryptoQuant CEO Ki Young Ju. For more information, please follow other related articles on the PHP Chinese website!