CryptoQuant CEO: Bitcoin may be used as currency by 2030

2024-10-24 19:36:00

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ChainCatcher news, according to Cointelegraph, Bitcoin mining difficulty has surged by 378% over the past three years, driven by institutional investments in large-scale mining operations, reaching unprecedented levels. This situation has led to unprecedented mining competition and raised the entry barrier for individual miners.

CryptoQuant's CEO Ki Young Ju predicts that this could be a positive signal for Bitcoin. The rise in mining difficulty may be a precursor to Bitcoin evolving into a stable currency by 2030. With the increasing dominance of institutions, Ju believes this could reduce the volatility of the cryptocurrency market.

With macroeconomic data and expected market fluctuations, analysts will closely monitor Bitcoin's performance in the coming weeks, with some expecting Bitcoin to test its all-time high again before the end of the year.

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