There is so much that has been said about the bitcoins and how they have risen in value spiking in ways that no one could have predicted making people rich seemingly in a few weeks. If you have invested 200 USD on bitcoin 7 years ago, the recent spike would have netted you about 150 million USD.
The prices spiked to an all-time high that silenced the naysayers and left the investors rich. Having been worth over 15,000 USD at one time, does it mean that we have seen the last of that spike and the value is going down?
I don’t think so.
What the Pundits Said
It is interesting to know that the Chief Executive of PayPal said that “One Bitcoin will be worth $1 million”. That is the reason why you will find so many people having faith in this. The people who have been insiders for long agree that there is a going to be more value in the years to come.
John McAfee and Jeremy Liew of Snapchat agree that there is more to this than you may have imagined. They all agree that the price tag going to $1 million is not so far-fetched anymore because this is a decentralized currency that is going to control so much of the market and even with the fears associated with it, it is threatening banks.
What is the Present Situation?
In 2017, there was a spike in the price of bitcoin that indicated it may have been a bubble but it has held on as far ahead as 2018. A lot of people cashed in on this and made millions which was a new era in the use of bitcoin and other cryptocurrencies.
It is around this time that we have seen Ethereum rise to prominence and even rival Bitcoin which is still strong.
At the time of writing this article, March 20, 2018, the price of Bitcoin is hovering between $8300 and $8500 per bitcoin which is very valuable. There are promises of making people rich with Bitcoin which has happened but with the bad predictions, you need to be careful when you get into this
Cryptocurrency And The Future
Cryptocurrencies and the future are inextricably intertwined. There is something about digital currency that makes it so popular and that is why you need to keep an eye open for what is happening so that you can make the most of it. In this year of 2018, there are some cryptocurrencies that you will need to watch out for.
Take the example of Bitcoin that just blew up and had value that exceeded their inception value. At this moment, the bitcoin’s market cap is in the excess of $233.6 billion. That is a lot of money which means that there is plenty to go around.
Bitcoin is the original pioneer of the cryptocurrency world created by Satoshi Nakamoto who is not a real person but probably a group. It is a cryptocurrency that spans the entire globe. It is the first of its kind of decentralized digital currency.
There is no single administrator and no bank required.
Bitcoin has attracted many to create their own currencies and as a result, we have had Ethereum, Litecoin, Ripple and Dash among others.
With all this room to grow and the decentralization, there is no reason why it should not attain those great new heights that they keep on talking about. That is the reason why you better believe what they are saying because this is the future of how we will trade and relate.