Everyone is talking about bitcoin…or blockchain..or cryptocurrencies. There is buzz everywhere. If you do not know exactly what bitcoin is, you have at least heard of it. Simply put, Bitcoin is essentially an encryption key that is kept in the ledger of the individual trader. If you own this special encryption key, you are capable of trading bitcoin for goods, services, and various other types of cryptocurrencies.
The value of bitcoin is controlled by the total value of goods in transit via bitcoin trade or transfer as payment. Thus, as more and more trades are made to buy bitcoins, the bitcoin value will continue to increase proportionally with transactions.
With traditional currency, the fluctuation in value can be controlled by the government by restricting supply and demand as much as needed. However, with digital currency, the government cannot control the supply. So with more and more transactions being made, the supply of bitcoin will only continue to increase, and in turn, increase in value.
So the question is: should you buy bitcoin or should you hold off for now?
In the last 12 months, the total number of bitcoins in circulation rose by about ten percent, the trading volume on major bitcoin exchanges and platforms is structurally higher, and the average number of transactions per blockchain block is also structurally higher. That is quite the amount of progress and growth in the past year.
Bitcoin is making some serious coin right now for serious traders as there is an increasing demand from investors who see bitcoin as a useful hedge/allocation when putting together their portfolios. As our economy shifts to a crypto economy, we could very well get to a point where cryptocurrencies are the only acceptable form of payment.
There are also several online markets that make purchasing and exchanging bitcoins very easy and accessible to everyone, but prices are extremely sensitive to fluctuation and vary depending on the platform.
Since the price of bitcoin has fallen slightly in the recent weeks, now is an excellent time to buy. However, since bitcoin is so volatile, the price, after reaching an unexpected low, has already started to increase yet again. Stock up your wallet now while prices are still low and watch your investment grow.
Visit Bitmoney.eu and join this evolution of money by purchasing your bitcoins today!