Bitcoin Value Set to Skyrocket in 2016
Experts claim -- with compelling reasoning -- that Bitcoin value could reach its 2013 highs again this year, and perhaps even surpass it.
Category: Ewallet News
Posted by: Marketing
2013 was a big year for bitcoin. A dramatic rush of awareness and surge in popularity worked wonders for the digital currency, propelling bitcoin value to more than $1,100. People who bought bitcoins way back in 2009 for 20 or 30 dollars now found themselves in possession of millions, seemingly overnight. Then, after the initial shock and excitement passed, the values dropped. They remained volatile, but tended to stagnate around 300 USD. But now could be the time to buy into bitcoin while it’s still cheap. ThePaypers.com reports that bitcoin’s biggest day could still be yet to come, thanks to a provision that was written into the fabric of the digital currency upon its inception. Bitcoin value could reach its 2013 highs again this year, and perhaps even surpass it, experts claim. But why now? Bitcoin’s founders and early enthusiasts set a finite amount of bitcoins to be created. That is why computers have to “mine” for them—they are creating coins from a limited stockpile. Currently, when a computer solves the very difficult mathematical equation required to earn bitcoins, that user receives 25 bitcoins. However, to keep inflation in check, the reward amount is halved every four years. The next halving is scheduled for July of this year. This is why many experts are predicting digital currency values to skyrocket again this year. With a new level of scarcity, demand for bitcoins is likely to rise. And with demand, cost also rises. It’s very possible that this 4-year cycle (which could last another 125 years), will keep bitcoin values rising and dropping, somewhat maintaining the volatility that’s typical of the currency.