$BTC Bitcoin Price Prediction For 2024: Boom Or Bust?
Is Bitcoin a Worthwhile Investment?
Investing in Bitcoin comes with its share of rewards and risks, and understanding these is key to making an informed decision.
Overall, Sciberras is optimistic about Bitcoinâs future.
âLooking into 2024 and beyond, Iâm personally very long-term bullish on Bitcoin,â he says citing the improved economic backdrop, the halving event, the improved development of scalability within the Lightning network, and the BTC ETFs.
However, Bitcoinâs future isnât without potential hurdles.
âIf Bitcoin continues to be targeted by governments and its energy consumption is further politicised, then it could put pressure on Bitcoinâs long-term sustainability,â Sciberras says.
One of the significant long-term concerns for Bitcoin is its security in the face of a decreasing block reward.
âIf there is lacklustre adoption and demand for Bitcoin, or fee revenue is inadequate to incentivise miners to upgrade their hardware and mine new Bitcoins, security could decrease and threaten the network,â he says.
