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Cryptocurrency experts believe that bitcoin may rebound in the next decade, despite the virtual currency falling significantly during the year.
The value of Bitcoin hit a record high of over $ 20,000 (£ 15,700) per currency in January, before tumbling to a low of around $ 5,900 (£ 4,600) in July, according to the CoinMarketCap ranking site.
Prices have yet to recover since then, with the virtual currency priced at $ 6,300 (£ 4,900) per currency starting at 12:00 on October 30th.
However, the cryptocurrency expert Nigel Green, head of the British consulting firm deVere Group, told The Independent that more people will shift to bitcoins as traditional currency in the coming years, potentially increasing coin values virtual.
He said that "mass adoption" could see the cryptocurrency market increase by "at least 5,000% higher than its current valuation in the next decade".
The news comes a day before Bitcoin celebrates its tenth anniversary, e The news site on Western Australia notes that the value of money "has been crossed by multiple boom and bust cycles" in the decade.
For example, the value of bitcoin rose from $ 30 (£ 24) to $ 2 (£ 1.60) in 2011, before rising to January high, reports the website.
While the price of bitcoins today is not much higher than its 2018 low, some believe the currency may start to rise as early as next month.
Speaking with the Daily Express, the owner of a cryptocurrency exchange Danny Scott said that "November" and "December" see more activity from investors.
"We are also seeing huge amounts of investments from companies with a high net worth and from companies that buy bitcoins in high volumes", which "increases interest and the interest of cryptocurrency," he said.
