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Interesting things that you should know about bitcoins

A bitcoin is the earliest form of cryptocurrency, where it all started. It hit the markets in 2011 and has been quite an eye-catcher among the investors. The bitcoin is known for its unpredicted fluctuations and tractions in the price, which could not be gauged by most analysts and market experts. Hence, the best time to invest in bitcoins cannot be predicted. In the past year, there have been some exponential developments in the price of the bitcoin which has attracted an expansive group of investors towards the cryptocurrency market. The sudden, unexpected rise in the value of the bitcoin has also prompted analysts to state that there will be a continuity in this rise and the values could double up in the coming year.

When is the best time to invest in the bitcoin?
The best time to invest in the bitcoin is probably, now. There has been an evident growth in the price of the bitcoin in the past year, which has benefited a large group of investors. Similarly, predictions are that the bitcoin is going to see an even more significant rise in its value but there are chances of the fluctuating value as well. For example, if one invested $10,000 in bitcoin in 2016, the value of their investment now would be roughly $60,000. The bitcoin comes with the complexities of technical terms and jargons that have the potential to influence most people and drive them away from it. If you jump this group and invest in it now, you might get seasoned with the bitcoin’s complexities by the time most investors make it to the investment and this would give you a competitive edge. Yes, this comes with a small risk attached to it, but if the predictions fall in place then it is a calculated risk and not just a gamble.

Another daunting reason to invest in the bitcoin is its independence. The bitcoin is not linked with any governing body and is an independent form of cryptocurrency. The bitcoins one owns are a part of their private wallets and they have full control over them. This enables them to exercise complete control over that form of cryptocurrency. Moreover, the bitcoin, unlike financial institutions, allows you to transfer money to any location without incurring a massive fee.

To sum it up, the cryptocurrency world is blooming without most people having a clear view of the limit of its progress. For cryptocurrency, and more importantly the bitcoin, the sky is clearly the limit so the best time to invest in bitcoins is not known. The pace at which it has been growing in the past is an evident indicator of its progress in the future. Investing now in the bitcoin will not only put you in contention for reaping unreal benefits but it will also make you a part of a legacy of early investors for the bitcoin.

What is the current value?
The price of the bitcoin has been fluctuating around the $9000 mark since the beginning of 2018. It is still at the same mark in May 2018; the price as of May 2nd, 2018 was around $9,100. As we know it, there was a sharp rise in the price of the bitcoin with the inception of 2018, and the same is predicted in the near future. The current bitcoin price, however, has been significantly stable for the past 4 months of this year and has failed most analysts who claimed it to grow by a 50% margin. This is a clear example of the unpredictable nature of the bitcoin price.

The price of the bitcoin reached the $9,800 mark in the last week of April, but then had a downfall and has failed to climb back up to the $9,500 mark. However, most analysts believe that it will hit the $10,000 mark soon if it maintains a stability with the $9,500 mark.

What is waiting in the future?
The future of bitcoins is slightly unpredictable as the past has been an active example of the unpredictable changes in this form of cryptocurrency. However, there are a set of analyzers that have predictions and projections about the developments for the bitcoin in the future. A prediction from the managing partner at Fundstrat has stated that the bitcoin could hit the $25,000 mark by the end of this year. The bitcoin will have to gallop more than 200% from its current value if it has to reach this mark. This, however, is not impossible as there have been events which have seen a heavy rise in the value of the bitcoin. Due to the fluctuations in its value, the best time to invest in bitcoins cannot be predicted.

Moreover, there have been several other analysts that have seconded this claim and believe that the bitcoin could see a development of this magnitude in 2018. The factors like an increase in the interest in crypto for Wall Street, and a large number of new investors, investment funds, and involvement of iconic families help in adding optimism to this claim. The CEO of blockchain company MEDIA Protocol has predicted that there will be a 50% drop in the value before it starts shooting upwards to the 200% rise. Therefore, it’s very difficult to predict the best time to invest in bitcoins.

All in all, if most predictions turn out to be true, the people that took the calculated risk of investing in a blooming bitcoin market could be in for heavy benefits. However, the bitcoin has an unpredictable nature and the world could be in for surprises.

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