Is Bitcoin the ‘New’ Apple? Could the price touch $60,000 by the end of 2023
Jamie Green – Cryptocurrency Specialist
Even though in 2020 smartphones are a common item, their growth rate over their first two years was only 20% per yar. Over the course of five years, the industry saw a growth rate of 50%, indicating that the technology had reached a broader category of users as it became more accepted.
Apple launched the original iPhone back in 2007. Upon its launch it successfully sold more than 300,000 units on the very first weekend. The iPhone 3G came a year later and it had a record sale of one million units in its first weekend. Considering this, you would expect a stable and steady stock price for Apple (AAPL), but this was not the case. During early 2008, the price of AAPL dropped from $28 to $18 in less than a month. The shares consistently underperformed, and apple smartphones struggled to penetrate new markets.
According to recent poll results, around 11% of US citizens own Bitcoin whether through mining or buying and selling cryptocurrency. This is surprisingly like the smartphone penetration back in 2008. You can find similar trends in the price volatility of Bitcoin. Although Bitcoin is a highly innovative technology that comes with an indisputable set of advantages, it still must prove that it is worth a trillion dollars.
In 2010, Apple launched its iPhone 4 and that's when things started getting favorable for AAPL. This new and improved smartphone finally allowed them to cater to a new market. Apple shares skyrocketed by 520% and reached $78 in 2012. Apply a similar growth pattern to Bitcoin and you will reach a price of around $59,900 by 2023. Positive news for those who buy and sell Bitcoin as well as those who have been doing large Bitcoin investing. This can amount to a $1.1 trillion market capitalization by the end of 2023. Is this projection incredibly unreasonable? Only time will tell.
Head over to the BC Bitcoin website where you can Buy crypto and Sell crypto such as Bitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards