Bitcoin has made incredible strides these past few months. It has been receiving so much attention in the tech media and is now starting to go mainstream. Everyone from novices to seasoned veteran investors are beginning to look at bitcoin with their own perspective. But what does it all mean? Is this the beginning of a new era of currency? Can we expect bitcoin to keep skyrocketing or should we estimate it to plumit. Lets take a look at whats going on in the cryptocurrency market.
For starters, bitcoin has gone up over 700% since the begginning of this year. It is difficult to speculate why this has happened, but the skyrocket in price occured just recently. This pick me up in price has spurred thousands of bitcoin millionairs just recently. Now people are beginning to speculate that bitcoin will “go to the moon” meaning reach an unfathomable value perhaps exceeding $25,000 usd. See the photograph below for details…
In addition, this rise in value and popularity of the coin has begun to scare those titans of industry that rely on the centralized international banking system. What is so powerful about bitcoin and similar cryptocurrencies is that it works through a peer to peer (P2P) network. Meaning, there is absolutley no middle man involved. As you can imagine, this form of transaction makes the banks nervous because now someone from the other side of the world can send a recepient virtually unlimited amount of money without any fees and the payment happens instantly. There are no waiting times or percentage fees with bitcoin transactions.
So now for the real question, should you invest in bitcoin? Mark Cuban recently did an interview giving tips on how to get a little bit richer. On the list of tips, he adviced people to invest 10% of their capital on bitcoin.
I personaly have already invested in bitcoin and oh boy am I glad I did. I have been very satisfied with the ROI and have begun to explore some new investment ventures in the cryptocurrency world (which have also yielded some great gains, more details coming on a future post.) If you want to begin safely purchasing bitcoins and other popular coins visit CoinBase.com