Tag: bitcoin price

Bitcoin Price Prediction in 2017

bitcoin prediction in 2017

 

Since the inception of the Bitcoin in the early 2009, it has seen a tremendous increase in price over a relatively shorter period unlike some of its digital currencies competitors. From the lows of a fraction of a dollar to the current price of $1000 plus, the Bitcoin price 2017 is predicted to close at as high as $3000 by end of year. If we take a more recent case of 2016 which apart from the price having been at about $420 at the start of the year, by mid-year it had risen to almost $650. Still, despite being halved, it managed to close the year at almost $970.

Currently, at $1050, Bitcoin price in 2017 has experienced turbulence starting at the highs at about $ 980, getting to the lows of about $846 and highs of $ 1280. With these figures, the Bitcoin price in this year seems to set for newer records. The factors that contribute to this optimism include the following:

  • There is the impending hard fork situation, which is likely to favor SegWit. If this happens then, user base and some transactions are likely to increase. The uptake of Bitcoin as a legit financial instrument and as an acceptable mode of payment has also increased leading to many countries and businesses allowing its use. As evidenced from previous years, these factors are likely to boost the Bitcoin price 2017 to new highs.
  • Businesses trading in Bitcoin have become legit, licensed and open with big companies like IBM, Dell and Microsoft now embracing Bitcoin. This has legitimized the Bitcoin making more people willing and ready to deal and invest in Bitcoin. With higher demand, the price is likely to go higher.
  • Portability, liquidity, and security that Bitcoin provides to investors have also increased the appetite for people to own Bitcoin. This has led to increasing demand that will see prices surge as more and more people take up the Bitcoin, and as a result less people are selling bitcoin for cash now. Countries like China, which has tight financial restrictions and controls on its capital outflows have led to increasing in people who are taking up the Bitcoin as an alternative to hard currency. As these continue, Bitcoin price 2027 is likely to increase.
  • The world financial and economic stability is always uncertain, and since it has pegged to mostly gold whose price keep fluctuating, many investors may opt for digital currencies.  The Recent acceptance of Bitcoin into the mainstream into places like stock purchases with clear regulations has and will lead to higher uptake and legitimization of the Bitcoin, which will eventually raise Bitcoin price 2017.

tags: bitcoin price 2017, sell bitcoin paypal, Bitcoin value

What influences Bitcoin price?

what influence bitcoin price
Most people around the world do not have internet access, or if they do, they do not know much of it. The ones who do have encountered a monetary phenomenon called Bitcoin, which is no other than an online currency that can be used only in that context, the web. Being a form of electronic money does bring its benefits, but it also can lead to several rough patches in the transactions, one being the price exchange for that currency.

In recent times, Bitcoin has experienced an up in its price. It has ranged from 230$ to up to a 1100$ in less time than thought which has left most people wondering what influences the Bitcoin price to make it so expensive nowadays.

To establish the bitcoin price, one must think beyond the terminology. One thing is the monetary price of the bitcoin, meaning that certain people would give x amount of their currency for x amount of bitcoins and another thing is the value of the bitcoin which why people buy those bitcoins for that amount of money, like an auction. After saying this, most people might think bitcoin is not very valuable since its only use is online. If you consider the fact that it is a cryptocurrency, meaning that the high cost protects it it would take to break its security and no person, digital or physical could accelerate its production or use it illegally or abuse it; just by that it could give a second thought to consider its market value.

The security of Bitcoin makes it a somewhat stable currency in times of macroeconomic uncertainty and political instability. Individuals, companies, and nations are taking care of their money and trusting the security behind the cryptocurrency. All of that have made bitcoin price go up and up in recent times. It might raise the price even more. Although it might seem like a financial risk, economic experts have given a second chance to the digital cryptocurrency, and many believe that it could be the future world currency.

Bitcoin price could dictate the value of fiduciary money shortly. The Bitcoin price at the beginning of 2017 surpassed the 1000$ mark and wouldn’t go down significantly. Current news like the Brexit outcome and Donald Trump’s victory in the United States led to more individuals trusting the bitcoin to save their money in a secure way.

With all of these reasons, the bitcoin price is only going to cement its status as an actual unfiduciary currency and its value will only go up. The only way this cryptocurrency could lose its value is something like the disappearance of the internet in the world or a global stability like no other. In any case, bitcoins are a pretty secure way to make sure your money only goes up and can be such a great investment that might pay out big time.