The recent fluctuations and volatility in the leading cryptocurrency, Bitcoin, made a lot of people wonder about its future. The truth is…
The Bitcoin price has been very volatile starting in 2013 when its price was at about $10 and $15 and then it skyrocketed to a high $1163 in the same exact year. Although in the next 13-14 months it dropped all way down to $200, it grew back again.
In 2016, the Bitcoin price reached the news again when there was a buying spree led by China because people were trying to avoid the Yuan devaluation. Of course, it has hit an all-time high reaching $1140 in 2017 and at that time the Chinese central bank made an announcement, saying that they want to investigate Bitcoin transactions on the market.
Last year, BTC tested the $10,000 mark after which it fell to below $6,000 in the biggest sink of all times as we know it. So…
The constant rise in the price of BTC seems to be pretty unsustainable in environmental and economic terms. One thing is for sure, the currency is deflationary and a little inflation doesn’t mean it’s a bad thing. One problem that is shadowing over the cryptocurrency’s future, is probably the huge waste made in terms of energy use.
In the end, Bitcoin has many advantages and because of this reason will most definitely remain one of the most relevant currencies. One thing is for sure, the price will remain volatile in the future.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
Discussion about this post