Bitcoin, the virtual currency that every day gains more value and questions
Bitcoin price volatility is huge but specialists see a great potential in its value as a mean of payment and in the Blockchain technology.
A little over 10 months ago, a bitcoin cost was only $ 1,000 and today those who bought it at that time will have posted a gain of 1,100%.
In recent weeks, bitcoin has grown in popularity and in price, but has also gained questions about its volatility and also about whether its value - which has reached almost $ 19,000, is sustainable. There are also doubts whether that is really its value or if it is merely speculative.
Bitcoin, and in general, cryptocurrencies, began to gain huge popularity because of little regulation, and not being tied to a central bank.
Until a few months ago, a user could switch from one wallet to another three bitcoins (approximately $ 3,000) and did not have to pay any fees or taxes in order for the transaction to be approved.
The cryptocurrency began to gain followers and potential clients when it began to be accepted in many countries around the world as a payment method.
For example, if a person in Costa Rica wanted to pay for the services of a graphic designer in India,using Bitcoin through the blockchain platform , he could make the payment at no cost, something that would not have been possible with bank transfers or in the electronic payment channels.
Soon, the bitcoins began to be used by investors, who created investment instruments in cryptocurrencies and also by speculators .
Bitcoin began to rise from May. At that time, it was at $ 1,400, a month later it was worth almost twice as much ($ 2,452) and continued its upward trend until the first weeks of December.
During the second week of this month, when it had already reached $ 15,000, bitcoin began to climb strongly when the Chicago Board Options Exchange announced the start of cryptocurrency transactions with Futures contracts.
It's really hard to speculate about the bitcoin evolution in the upcoming months but market experts tend to estimate the bitcoin value to nearly $60000 in 2018 and then a huge drop could follow.
What is your opinion on the matter? Would bet on it in 2018?