Bitcoin is Now Back
Bitcoin is Now Back 2019 News Update Bitcoin BTC Systems
After its rocket ride crashed back to Earth at the end of 2017, Bitcoin and other cryptocurrencies have spent much of the past year in the doldrums. But in recent weeks things have been turning around, with the big BTC surpassing $6,000 per for the first time this year. But is there anyway to know if Bitcoin is really back?
As with many investments, opinions vary widely. Before looking into the future, it’s worth looking at where we are and where we’ve been to ask perhaps a more salient question: did Bitcoin ever really go anywhere?
In its decade-long history, the value of the pioneering cryptocurrency has actually followed a pretty reliable trajectory. That is to say, over the full term Bitcoin’s value has only grown, much like many stocks, real estate and precious metals. It has seen dramatic run-ups in price followed by painful crashes, but it has consistently retained a significant portion of its previous gains each time it plummets.
In other words, Bitcoin has reliably taken two steps forward and only one step back when it tanks. While the crypto captain lost roughly 75 percent of its value after peaking at a price of almost $20,000 per digital coin at the end of 2017, its lowest price from the last twelve months was still double where it stood in May of 2017.
Now, that price point is up again by 75 percent from its bottom in January, leading many to wonder if another great run-up in price could already be underway. If that turns out to be the case, and Bitcoin follows its historic pattern of increasing in price by an order of magnitude, we could be looking at $100,000 per Bitcoin.
Bitcoinliva: Bitcoin and digital currencies, as with any investment, may involve the risk of loss. The Consumer Financial Protection Bureau has warned that virtual currencies, including Bitcoin, carry “significant risk” to consumers.
I know, it sounds like fantasy. But once upon a time we said the same thing about $100 per Bitcoin, and then about $1,000 per coin, and then about $10,000 per… You get the idea.
Yes, this is pretty cheap analysis, but plenty of Bitcoin “bulls” like John McAfee (an eccentric bull, to say the least) subscribe to this outlook.