Bitcoins are created digitally through a “mining” process that requires powerful computers to solve complex algorithms and crunch numbers. They are currently created at the rate of 25 Bitcoins every 10 minutes and will be capped at 21 million, a level that is expected to be reached in 2140.
Related post: How To Make Money Daily Trading Bitcoin on Luno
These characteristics make Bitcoin fundamentally different from a fiat (normal/local) currency, which is backed by the full faith and credit of its government. Fiat currency issuance is a highly centralized activity supervised by a nation's Central Bank. While the bank regulates the amount of currency issued in accordance with its monetary policy objectives, there is theoretically no upper limit to the amount of such currency issuance. In addition, local currency deposits are generally insured against bank failures by a government body. Bitcoin, on the other hand, is decentralized, it has no such support mechanisms. The value of a Bitcoin is wholly dependent on what investors are willing to pay for it at a point in time. So, it is the masses that determine the price of Bitcoin and not the government.
Bitcoin value has increased faster than predicted by financial analysts.
How can the currency valued at 5,000 coins per one pizza (on May 22th 2010 Laszlo Hanyecz bought two pizzas for a price of 10,000 Bitcoin) had become the most valuable virtual assets in the world?
Can Bitcoin repeat its price peak of the November 2017 till January 2018? A tough question.
There are many speculations on how BTC managed to show such incredible increase in price. The Bitcoin’s historical ~$20,000 price peak of December 2017 came out of nowhere and took even the most sophisticated analysts by surprise.
At the beginning of 2017, the price of 1 Bitcoin in Nigeria Naira was about ₦400,000. Towards December same year, the price of 1 Bitcoin was little over ₦7million. The volatility of Bitcoin is the reason you should start investing in it, especially by Trading on Bitcoin.
2019 will be bullish for Bitcoin, as by then the adaptability will be higher as more people will start believing in the technology behind Bitcoin. Bitcoin may reach up to $20,000 by the 3 quarter of 2019. The more the trading, the more the price. Moreover, as we know, Bitcoins are scarce in circulation, i.e. there can be only 21 million Bitcoins mined, out of which 17 million has been mined already, which means only 4 million to be mined, which will make its value more.
Let me break this down. Bitcoin is created through mining and the total number of Bitcoin can not exceed 21 million. Already, 17 million Bitcoins have been created, remaining 4 million. This increases Bitcoin demand and consequently, it's value. That is, creating value through scarcity.
Additionally, several countries like the U.S., Japan, and South Korea have shown extreme willingness to integrate Bitcoin and other cryptocurrencies into their financial systems by setting up regulated markets which might function freely and securely.
By the end of the year 2019, the Bitcoin price will reach $23,499, which means that the 2018 bearish trend ends and shifts to the bullish trend.
Recently bitcoin seems to have assumed the role of investment asset, as traders, institutional investors and small savers have woken up to the potential gains from price appreciation.
Bitcoin is an asset, a future currency everyone is adopting to. You shouldn't be let behind. You don't have to buy a whole 1 Bitcoin to get started. You can start by buying just a fraction of it. With just ₦500 on luno.com, you can start your Bitcoin accumulation journey.
Bitcoin is not networking business, Bitcoin is not another form of MMM, Bitcoin is a digital currency.
You can acquire Bitcoin by buying it, through mining and by trading.
You can as well be making a daily profit/income through Bitcoin trading. It's very simple and with very minimal risk. And with just ₦2,500 ($6), you can start trading journey.
If you want to learn how to trade professionally and be making good daily profit, click here to read the full details or you can get the training manual and video tutorial, cost is ₦3,000 (R100 ZAR). See contact details below.
The value/price of Bitcoin has increased by over 20% in the last 2 days.
Do not wait till it's late, the time to take action is now. Go to Luno.com to create free account and start your Bitcoin journey today.
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