Bitcoin expected to hit $5,000 USD in the Next Two Weeks
Bitcoin expected to hit $5,000 USD in the Next Two Weeks published by Я солдат
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Posted on 2017-09-03
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Bitcoin. Looked down upon masses of investors, brokers, and normal people. Back in 2013, it was a mere $125 per coin. By the time I finish writing this article, it will be around $4,700. Clearly those who didn't invest early on are full of regret, but is investing now a good idea?
To answer this, me must learn from the past, and most importantly, what Bitcoin (BTC) is.
Bitcoin is a peer-to-peer cryptocurrency that is primarily used to conduct purchases anonymously. It is mined by decrypting SHA-256 hashes. When mined, it can be used much like real currency, except everything you do with it is anonymized. Mining isn't the only way you can get it, either. You can convert your native currency (let's say USD) into Bitcoin four main ways:
- Buy it from other people that have it (like from LocalBitcoins)
- Earn it from a faucet
- Buy it from a supplier (like CoinBase)
Once you get it, much like normal currency, you can gamble with it, launder it (washing), and trade with it. However, most investors consider Bitcoin as a speculative foreign exchange (Forex) investment, and will treat it as such.
Bitcoin in the past has been extremely volatile, but well worth it, and much like the infamous Enron scheme, it keeps going up in price with no signs of stopping (with the exception of price corrections). Unlike Enron however, Bitcoin is not a scam. It's got science to back it up. Go on, do your research. You won't be disappointed. In a matter of months, it's gone up more than $600 USD in price.
Now the smarter people reading this article are already thinking, "It's technically software, therefore it must be updated for security and bug fixing, as well as general updates, right?"
Well, you aren't wrong. Bitcoin's open-source code is updated on occasion. In the latest update, it made Bitcoin have more potential than ever, with some investors predicting that in the next ten years Bitcoin's price will hit $10,000,000 per coin. A lot better than $125, am I right?
So, in the end, I'm not shilling anyone. I'm not forcing you to invest in anything you don't want to. I'm not promoting illicit activities. I am, however, encouraging you to make wise decisions for your future, and I have the strangest feeling that Bitcoin could help.❖
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