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Bitcoin (BTC) Could Be Worth $1 or $10,000 in 2030

Bitcoin (BTC)
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The world’s most famous & widely used digital currency, Bitcoin (CURRENCY:BTC), has an uncertain future ahead of it. There is a general consensus among investors that the currency will either be worthless, or worth several times its current value within the next decade or so. As of the 07/07/2016, 1 Bitcoin is worth 678.75 US Dollars (CURRENCY:USD).

Bitcoin (BTC)

Bitcoin (BTC) – Origins & Secrecy

This highly valuable currency was invented by Satoshi Nakamoto (a pseudonym) in 2008, with its release (as an open-source software) in 2009. The identity of Satoshi remains unverified, although there has been a lot of speculation. The U.S. treasury classifies Bitcoin (CURRENCY:BTC) as a decentralized currency.

This currency has been extensively used in organized crime & illegal activities, primarily for the high levels of secrecy it offers. According to an article recently published on Engadget, businesses are trying to “de-anonymize” the asset, in a bid to fight online crime. The article elaborated & gave an example of how a start-up was tackling cyber crime. The article read “Over in the US, a Seattle-based start-up called CoinLab claims that it’s developed a piece of software, Oden, that can monitor a person’s Bitcoin activity. Unfortunately for digital coin evangelists, the company claims that the majority of transactions come from one of two places: online gambling or the dark net.”

In addition, bitcoin has been connected to various scams including the latest bitcoin trading bots like bitcoin profit, which guarantee investors unrealistic return.

As of February 2015, more than 100,000 merchants were accepting Bitcoin as a payment method, making the most widely accepted cryptocurrency.

Price of Bitcoin is Highly Volatile

For much of 2012, 1 Bitcoin was worth just a few American Dollars, & within just a year or so (in December 2013), its value peaked, at $1,230. This represents a change in price in excess of 500%. To put this into perspective, when it was announced that the UK had voted to leave the EU, the British Pound (CURRENCY:GBP) fell by around 10% relative to the Dollar, and this was considered a big drop.

Many FOREX investors trade this cryptocurrency, as its volatility presents them with an opportunity to generate large returns. As with all currencies, owning it doesn’t yield a dividend (like on shares) or a coupon (like with bonds.) Some CFD & Spread Betting brokers (such as IG Index) allow traders to trade Bitcoin (CURRENCY:BTC).

Fundamentally, this unique currency was created less than a decade ago, & and it has experienced huge fluctuations in value. There is no reason to believe that these vast changes in price won’t occur again, so it is virtually impossible to guess its future value. In other FOREX related news, it has been speculated that the Federal Reserve may lower interest rates to weaken the US Dollar. A weaker dollar would help the USA remain internationally competitive.

All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
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S.Mulhem

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