For those of you who aren't familiar with the mighty digital coin, you may need to return to 2017 from the rock you're currently under! Investors are going crazy for Crypto-currencies and its not hard to see why. Never before has there been such a lucrative investment opportunity for the public to get in on.
Bitcoin runs on Blockchain smart technology, and its been rallying like crazy since it first burst upon the scene. So much so that its market capitalization value is edging closer to $50 billion.
It's a familiar story month after month, " Bitcoin sets new record high", this is causing people to purchase bitcoins/a share of bitcoin at an alarming rate, causing the value to surge even higher. On the 20th June 2017, the market capitalization of cryptocurrencies shot to over $114 billion! And if that wasn't crazy enough already, Bitcoin itself is responsible for 36% of the entire market and is being hunted down by Ethereum and potentially also by Litecoin (a few other major cryptocurrencies).
Bitcoin shot to over $3,000 in value earlier this month, and has since dipped below that but it has risen above a key resistance line according to expert market analysts. The Japanese government legalized the payment of bitcoin back in April and that has well and truly added fuel to the fire, this news means other countries such as Singapore are planning on making Bitcoin an official payment method also, which will no doubt cause even more highs.
While this seems very likely to happen and some market experts are predicting bitcoin could eventually be worth over $100,000 per coin compared to its current value of $2,512, it is strongly advised that people don't throw all of their money into investing because it is impossible to know what will happen in the future.
As far as investing goes though, there is a small price to pay for failure compared to the upside potential cryptocurrencies have right now, especially Bitcoin and Ethereum.
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Profitmaster.