After the bitcoin broke the $10,000 barrier, a debate took place behind the scenes of Techviral about when to report future cryptocurrency records. It seemed reasonable to comment when it was over $16,000 – and that has already happened. The price of the popular cryptocurrency bitcoin has risen 1500% since January. It’s a case to say that it’s crazy! Although many consider that the Bitcoin currency is nothing more than a “bubble scheme”, the truth is that it is already worth more than $ 19,000 and the record was reached on Saturday. In just 24 hours the value of the cryptocurrency grew by 10%. This popular crypto-currency, Bitcoin more than tripled in three months; in August, a bitcoin was worth $3,000. Since the beginning of 2017, when the currency was quoted at less than a thousand dollars, the accumulated valuation is about 900%. How much will the appreciation of the Bitcoin electronic currency reach? As it can be seen from the chart below, taken from the CoinBase website, the currency has grown significantly in recent days and this Saturday has hit a new record, more than $19,000. Compared to last month this currency appreciated more than 146%.
What is Bitcoin?
We can refer in generic terms that it is a virtual currency created in 2009, based on the peer-to-peer (P2P) system. P2P is a system that does not provide for centralized authority to control currency or transactions, as with other currencies (for example, the INR. is controlled by the RBI). Instead, money creation and transfers are based on an open-source network in encrypted protocols that form the basis of Bitcoin’s security and freedom, making transactions instantaneous among users. The invention of a mysterious computer guru, who referred to his pseudonym Satoshi Nakamoto, this coin is created by means of a very complex mathematical formula. Analysts believed that the well-known and most used currency Bitcoin would be able to finish the year worth more than 10,000 dollars, but the truth is that the value has almost doubled. Other virtual currencies are also breaking records, such as the Ethereum-based ether, which had its price multiplied 58 times in 2017 from $8 to $470. In addition, the more than 1,000 crypto coins represent a US market value $308 billion, equivalent to more than Rs.19 trillion. So, what do you think about this crazy increment in the value of the popular cryptocurrency Bitcoin? Simply share your views and thoughts in the comment section below.
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