Bitcoin is one of the most important crypto assets in the world and is the face of the crypto community. Therefore, many people have an investment in the currency and want to know if it’s going to continue to be successful for the next few years. Long-term investors particularly look for reassurance that the carefully chosen investments will yield fruitful profits by the end of 2030.
Seemingly, Bitcoin is projected to grow for the next few years as one key crypto expert, Charles Edwards, thinks that the recent growth seen by the currency is the start of a new era for Bitcoin and says it will explode in 2024 and beyond.
A “New Regime” For Bitcoin
Charles Edwards is a hedge fund manager and commentator on Bitcoin and feels that the currency is due for a “new regime” that will carry it through the next few years. Specifically, Edwards looks at the block subsidy that will take place in 2024, calls it a pivotal event and says Bitcoin will become “the hardest asset in the world”.
His comments come from a recent discussion he took part in with CoinTelegraph, where he talks about NVT – which Edwards refers to as being the “Bitcoin version of a PE ratio” – specifically a way of measuring the value of the currency and network as a whole.
It’s important to understand that NVT is “network value to transaction value”. It’s the ratio of daily capitalisation for Bitcoin’s market to the average transaction volume that flows through Bitcoin transactions.
It’s a simple concept to understand when one moves past the technical jargon. If the Bitcoin network is used to effectively settle large amounts of transactions, then the network is worth more overall.
A Positive Year Ahead?
Hopefully, what’s being seen here is the beginning of a positive year for crypto as a whole. Bitcoin becoming one of the most valuable assets is definitely an enticing prospect and one that will ultimately cement its position as the leader of the crypto community.
Naturally, it’s difficult to predict with any real certainty what the market will do at any given point, so suggesting that it will become one or the other is rather futile. However, the more experts that say Bitcoin could grow, hopefully, points to improved levels of success and public notoriety for the currency.
Final Thoughts
We at Bitcoin Bible are thrilled at the idea that Bitcoin could grow to become a powerful force in 2024. If this is the start of a “new regime” for the currency, then we can’t wait to see what happens. Bitcoin has seen some good growth in the last few months, but if this is just the start, then more so, the better. At the end of the day, we want to see the currency succeed, and we feel that it’s only possible if it’s given a chance to grow and develop. For that to happen, we also need more people to take crypto seriously – hopefully, improved growth and public use will help with that.
