It looks like Bitcoin is making a comeback!
Or so some might hope.
For the Bitcoin bidders and those who believe that the future of money is digital, here is something that may make you smile.
For those of you who are new to the cryptocurrency market, here is what you should know beforehand.
Since the drastic hit to value Bitcoin took in December 2017 the future for cryptocurrencies, along with the hopes of those who believed that the world’s financial future is digital, started to dim.
According to Investopedia’s Bitcoin’s Price History, Bitcoin entered the cryptocurrency market in 2009.
Since then the blockchain cryptocurrency’s most successful year was 2017. During this 9 year gap the price of bitcoin skyrocketed from a few United States Dollars (USD) to 17,436 USD in 2017.
Then there was a twist. For those watching the market as well as those who were in the business of buying and selling bitcoin things started to look down as the market value for bitcoin plummeted and the future of the cryptocurrency seemed fixed.
Until now, January 2020., where bitcoin is now reaching familiar heights trading at nearly 10,000 USD.
Below is a screenshot of the Bitcoin prices from Coindesk.
Possible Benefits of Bitcoin
This specific currency has been invested in by people across the globe and is projected to be of help in turning individuals’ financial realities around.
Rumored during the height of Bitcoin to have been a Bitcoin millionaire, after declaring bankruptcy, is none other than rapper 50 Cent (Curtis Jackson III).
Although 50 Cent later stated the media reports were incorrect and he did not own any Bitcoin. Had the accusations of him owning the 700 Bitcoin he was rumored to been true; he would have once again been a multimillionaire with approximately 7.8 million USD in Bitcoin.
For the average individual Bitcoin made financial equality a possibility.
And may be able to do so again.
Why Is Bitcoin Appealing?
Some of the benefits Small Business Trends list as benefits of Bitcoin is that:
There is a low fraud risk for the buyers because they do not have to disclose sensitive information to the sellers
Bitcoin was built to withstand inflation
It is a two-party transaction between the buyer and the seller
What Do Professionals and Experts Say About the Future of Bitcoin?
Many experts share the opinion that investing in Bitcoin is a risk the public shouldn’t take. Stating that the cryptocurrency system will ultimately fail.
More Expert Opinions:
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