Bitcoin’s price soared above $10,000 for the first time in 15 months. When many experts including Warren Buffet began to write off Bitcoin’s future and saying it is a real bubble and will meet a bad fate and many even said, Bitcoin will not survive past 2018 but cryptocurrencies like Ripple and ethereum will – Quinlan, Bitcoin bounces back in the 2nd quarter of 2019 and comfortably jumps over 10k and just touched 11k as well. The current price is 11,114.00 United States Dollar at the time of publishing this article.
The price rise is backed by a 13 percent jump in trading volumes.
In January 2017, the coin touched 1k for the first time since 2013 and by the end of 2017, Pundits began to speculate that Bitcoin could even touch $250,000 by the year 2020 as the currency nearly touched $20k per coin.
Now, to the most interesting attribute or perhaps a mere coincidence?. Facebook talked about its new Cryptocurrency Libra to be launched in 2020 just a few days ago and who benefits, Bitcoin…Oh boy, isn’t that a miracle?
Thinking out loud, I genuinely believe Libra could either help Bitcoin or throw the cryptocurrency to the cleaners for good and so far the signs are, it is helping Bitcoin get back to its price trend we once saw in 2017.
Libra has created a nice buzz for digital currencies, at least on social media. Backed up by industry financial leaders and working as an independent organization, Libra is going to get a lot of attention in the recent future. The cryptocurrency is going to redefine how people spend money online, it could raise awareness of using money online for sending and receiving through blockchain.
From a common man’s point of view, people believe, If Libra is a being introduced by Facebook, Bitcoin is not bad as there were propaganda and restrictions on it in 2018. People are now believing, cryptocurrency is real, the digital coin is real too.
Question is, when can one decide if now is the time to invest in Bitcoin and buy it. Will it rise further. Will it be a good investment and a good return to investment?.
Fingers crossed, be watchful, make your decision wisely. This currency has a tendency of falling and it did fall miserably in 2018.