- Experts in the cryptocurrency field have made predictions that foresee the value of Bitcoin going over US$100,000 by 2023, with some even seeing us on the brink of higher value jumps by January 2022, making holding and use by the general public more tempting
- The cost and speed of completing transactions has been a problem when conducting business on the traditional blockchain, but the Lightning Network has reduced the fees and wait times for settlement
- LQwD launched its Lightning Network PaaS offering on November 17, aiming to hep more users complete crypto-based transactions instantly, securely, and inexpensively worldwide
The interest in Bitcoin has skyrocketed since the beginning of 2021, making it a hot topic among investors and popular culture. Even U.S. government officials and the Biden administration have expressed interest in new cryptocurrency regulations (https://ibn.fm/u8EkI). It does not matter what the public’s personal opinion is of cryptocurrency – it is becoming more mainstream each day. Recently, El Salvador adopted Bitcoin as the official currency, a move made effective in September with the Bitcoin Law. And companies like LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF) are working hard towards increasing Bitcoin adoption, making cryptocurrency transactions faster and more affordable for everyone.
The price of Bitcoin depends on the influence of specific economic factors – scarcity, mainstream adoption, regulation, and mining cycles. In recent weeks, the value of Bitcoin fluctuated significantly. With the volatility of Bitcoin remaining high, ease of liquidity and transactions are seen as important in encouraging more usability.
Predictions on the value of Bitcoin vary, some being more optimistic than others. Some of the most prominent predictions from well-known investors, evangelists, and public commentators in the cryptocurrency industry include (https://ibn.fm/WRdOo):
- Ian Balina, a Bitcoin investor and founder of the cryptocurrency research and media company Token Metrics, predicts that the value will rise to US$75,000 by the end of 2021. He does not think that $100,000 is out of the question but prefers to keep his prediction on the conservative end of the spectrum.
- Matthew Hyland, technical analysis and blockchain data analyst, predicts a US$250,000 value by January 2022. His prediction is based on historical data. He believes that the US$100,000 threshold is inevitable and cited 2017 when the coin’s value jumped 150% from US$8,000 to US$20,000 just after Thanksgiving.
As Bitcoin is growing in value and popularity, more services emerge to help people make purchases and transactions using the cryptocurrency. Instead of using the traditional blockchain experience for transactions, more people are looking to the Lightning Network, which allows for costs to be lowered and payments to settle much quicker. The Lightning Network is a second-layer technology applied to Bitcoin using micropayment channels to essentially scale the blockchain’s capability and conduct transactions quickly and efficiently.
With the Lightning Network, users of Bitcoin can say goodbye to the frustrating “mainchain” experience they often deal with when trying to send, receive, or purchase Bitcoin. Taking the payments off the main blockchain has allowed for transaction costs to be lower and more efficient overall. LQwD FinTech Corp is focused on helping make transactions on the Lightning Network even more cost-effective and efficient.
To this end, LQwD launched a platform-as-a-service (PaaS) offering, lqwd.tech, on November 17. The platform is designed to make Lightning Network access simpler and to support more users looking to complete transactions instantly, securely, and inexpensively worldwide. The company has deployed a part of its own Bitcoin holdings to procure additional nodes and provide liquidity for the platform.
LQwD expects that the Lightning Network will be a force for change worldwide and become the global monetary exchange of the future. The network has already seen an impressive 205% growth since January 2021 and is anticipated to reach 700 million users by 2030.
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://ibn.fm/LQWDF
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