With the price of bitcoin hovering around $1,000, it’s easy to ask, did I miss an opportunity?
If only you had stumbled on bitcoin or other cryptocurrencies when they were trading for pennies.
But bitcoin and other cryptocurrency markets are far from flat, and probably far from peaking.
Only a few weeks ago, at the end of December, the price of bitcoin surged, sending the price of bitcoin near historic highs. What’s interesting is to watch the relationship between some of the other popularly traded cryptocurrencies when bitcoin is rising and falling.
Generally, those other prices are also rising and falling at the same time.
So, is it too late to buy cryptocurrencies?
I think there are two ways to answer that, and both are no.
So, even though the early days of buying inexpensive bitcoin, or mining bitcoin cheaply on a simple rig are over, there are still plenty of opportunities left.
If you look at the price chart for 2016 you see that price of bitcoin (and by extension other coins in the cryptocurrency economy) grew dramatically from the beginning of the year to the end. It’s likely, based on factors including general acceptance, investor confidence, and improved development, that the growth trend will continue.
What’s also interesting to look at is all of the peaks and valleys that accompany a year’s worth of growth. From what I understand, those peaks and valleys represent good trading opportunities.
Well, as I mentioned earlier, it sounds like there is a lot of excitement and momentum around the blockchain technology. Major banking institutions and corporations are looking for ways to incorporate the blockchain into their businesses.
Combine with that a sense of overall stability, and there is a recipe for potential growth. As I mentioned yesterday, it sounds like there is a lot of excitement and momentum around the blockchain technology. Major banking institutions and corporations are looking for ways to incorporate the blockchain into their businesses.
It will be interesting to watch and see if cryptocurrencies ever really meet their full potential as peer-to-peer payment networks, or whether they become alternative investment vehicles that people want to buy and hold.