Bitcoin is a digital currency that is quickly becoming an alternative method of payment all over the globe. While it hasn’t yet been adopted as a primary currency by any countries, it has been approved as a secondary and tertiary currency in a few countries that are doing well economically, such as Switzerland and Japan.
Like any currency, the value of Bitcoin fluctuates on a regular basis, continuously altering in value every single day. Bitcoin reached its peak value around halfway through 2013, when the value of Bitcoin reached just over $1,000- a very impressive figure indeed. However, after peaking the value of the Bitcoin dropped quite rapidly following this. It seemed unlikely that the value would ever surge this much again until the beginning of 2015 when things began to turn themselves around again. Around half way through the year, the value of Bitcoin began to rise, and by the start of 2016, the value had increased from a low of $219 to $420- that’s almost double the lowest value Bitcoin had seen and certainly caught the eye of financial experts and shareholders alike.
It was predicted that by January 2017, the value of Bitcoin would have increased and actually doubled again. Online gaming was more popular than ever before, more retailers were accepting Bitcoin as a method of payment than ever before, and with countries as influential as Japan using Bitcoin as a secondary currency to the national currency, it seemed that the value of the cryptocurrency would only surge.
Two months into 2017 it can be confirmed that the value of the Bitcoin has indeed increased since January 2016- it had a steady growth throughout the year- and by January 2017 the value had indeed doubled in value- in fact, it had more than doubled, taking the current value of Bitcoin to $969.
At the rate Bitcoin is going, it seems likely that the cryptocurrency will only continue to increase in value, and if it doubles again over the next year, investors and shareholders in Bitcoin will be very happy come 2018.