Bitcoin is an online digital currency, just like a dollar or a pound but with a few exceptions. Introduced by Satoshi Nakamoto in 2009, Bitcoin partcipates in a peer-to-peer payment system where no intermediaries exist and goods can be securely moved between any a few on the planet. That is associated with a heavy network of computer systems and the unit of currency for the Bitcoin system (appropriately called Bitcoin) can be simply obtained by joining the great network. Bitcoin provides a fast cheap and secure transaction alternative but few are willing to adopt the jump for it. Hence the one million dollar question still lingers, is Bitcoin a secure investment? bitcoin price prediction 2018
Bitcoin is merely a few years old, an interesting creation that has awed many and for the record, has attained a name in the top financial charts. Its popularity has spanned and it has led some of the most notable businesses like Virgin Galactic to consider it as a satisfactory source of repayment. Bitcoin prices increase at rates as high as 10% and continue to dominate as the alpha of the market and this has made many enthusiastic about committing in it.
Another special feature of Bitcoin is that it does not have a central standard bank and neither does a central government control it. It’s a global foreign currency and its creation and existence lies behind a complex and geeky math algorithm that permits it to shadow government related mishaps. Cases of politics instability and government absurdities that plunge the economic system down to shame and lead years of purchases in a currency down the drain do not occur in the crypto-currency system. This creates a secure and friendly investment opportunity with low pumping risks.
With an ever-amazing upside, crypto-currency also has its downs. Since mentioned, this thing remains to be taking baby steps; and with that comes great uncertainties. Bitcoin prices are volatile; currently increasing deliberately and can fluctuate at 30% to 40% in per month. The world is still surprised in it is emergence and there is available few Bitcoin holders and Bitcoin. This causes unanswered questions and cold dread when it comes to as investing in a new unpredictable ‘gold mine’ can yield devastating results. Its newness brings up lack of regulations and scares off potential traders.
The enigma surrounding the Bitcoin system is a significant factor to be considered. Anything could happen and everyone participating in the Bitcoin market is on a high alert. Chinese suppliers in December 2013 taken away the use of Bitcoin and this led to a drastic drop to its value from $1240 to $576 in only 3 weeks. Programmers also determine the functionality of this global currency and many question the thought of risking their finances for some group of geeks. This prevents many from venturing into the system and enhances the risk of Bitcoin investment extremely highly.