Wao that,s great Bitcoin Price again up day by day
Bitcoin’s value crossed the $15,000 threshold for the first time today 7 December 2017, marking another milestone in its dizzying ascent for world trade history. A few months ago, the cryptocurrency has undergone a staggering increase in value of btc; surging from roughly $3,500 in mid-September 2017 to its current price. And at the start of the year January 2017, a single Bitcoin was worth less than 800 USD Doller.
Today Bitcoin Price is above 15000$.
What happens next year 2018 is anyone’s guess, and most analysts are united only in their uncertainty over the cryptocurrency’s future because what is heppening. Everyone is in Bitcoin long ago stopped being useful for actually buying things, so the questions facing Plunger are:
is this like a bubble?
Answer is that.
And if so, when will it burst ?
Some traders think we are intimate and are ready to take a short Bitcoin in exchange for its value in the future. “You are very enthusiastic and many, including me, think that this is the greatest thing that ever happened in human history. You have a lot of people who think it’s a spark and the Ponzi scheme turns out that both of them can not do it. ”
Although the general trend for Bitcoin valuation is only increasing, the cryptocurrency is very volatile. For example, on November 29, the value of the company fell 20 percent in less than an hour and a half, down from more than $ 11,000 per tick over $ 9,000. True believers such blips are only temporary, but the skeptics warn that any jumps anywhere may end. It was $ 15,800 shortly after it crossed $ 15,000. Previously, its value dropped sharply to $ 14,800.
Bitcoin’s higher valuation causes new problems such as energy costs. It requires tremendous power to maintain the Bitcoin network, and according to a report from Ars Technica, cryptocurrency At present, it uses a lot of electricity annually in Denmark. The predictions that this consumption will increase or decrease in the future is difficult. (Depending on things like new product launch rates and transaction volumes), but since Bitcoin is currently being used as a speculative asset class It seems unsustainable.
At the same time, financial experts are struggling to understand the whole phenomenon. Analyst at the Financial Times, Walter Zimmerman, suggests that the best way to view Bitcoin is to make a ridiculous video game without boundaries. “Other currency users find the utility in a fixed value, but not in the Bitcoin world,” writes Zimmerman. “The reality of Bitcoin is that the user is also a player. And the purpose of this game is to score the highest possible.