It is nothing new that Bitcoin experiences extreme price increases in a rather short amount of time.
But what are the factors that influence this extreme behavior?
Let’s find out in this article!
A big reason for Bitcoin’s rapid price increase comes down to the fact, that there are many institutional investors starting to invest in Bitcoin.
These big investment firms have so much money in their portfolios, that even if they just allocate a small amount of their portfolio to Bitcoin, it still is a huge amount of money, and can impact the price drastically.
Of all the innovations that this world has seen in centuries up until recent times, blockchain ranks among the best. Blockchain technology was invented by Japanese named Satoshi Nakamoto in 2008. Although, it appears that the identity of the said inventor is a mystery with only a few details known.
The blockchain technology is truly what the world needed at the time he invented it. It is a decentralized, open, distributed ledger which records transactions between users efficiently and permanently.
With all the hype surrounding cryptocurrencies, it’s not often that you hear of the potential risks involved with emerging technologies. Bitcoin owners like to boast about the strength of the cryptocurrency and how it can withstand fraudulent behavior. And while there have been plenty of high-profile cryptocurrency exchange hacks, the blockchain ledgers involved with the leading cryptocurrencies have yet to be compromised.
Bitcoin faucets have traditionally been a popular way for newcomers to Bitcoin to get their first small amounts of Bitcoin. Find a good faucet rotator and you could theoretically earn a decent amount of Bitcoin by remembering to hit the faucets every hour or so.
One potential problem with this, though, is that faucets are sometimes accused of being scams designed purely to earn advertising fees for the owners with no intention of ever actually paying out.
With multiple Bitcoin hard forks, or splits of the Bitcoin blockchain into two, looming on the horizon, it’s easy to get caught up in the hysteria and be scared of what will happen to Bitcoin (and its price).
Throughout the entire history of computing technology (as opposed to the human computers made famous by movies like Hidden Figures), one fact has stayed consistent: Supercomputers are expensive.
Sure, you can now get more flops for every dollar you spend on computing technology and supercomputers are now far less vulnerable to a literal bug in the machinery, but the number one reason that cash-strapped academic organizations might hesitate to invest in a supercomputer is that teraflops are still costly.
Over the past few years, some of the world’s largest companies began to adopt Bitcoin, embracing its relentless volatility and ever-growing infrastructure. Here’s 10 Biggest U.S. Companies That Accept Bitcoin.
With cryptocurrencies having hit a total market capitalization of more than $160 billion, and trading at a record high of 1BTC at $2000, Nigerians should not be left behind in this massive transition in the world of money matters.
Bitcoins are precious currencies that one has to always keep safe and secured as it can be stolen. Just like other valuable solid materials that can be kept in wallets, bitcoins can also be kept secured in a wallet.
When Satoshi Nakamoto (pseudonym) came up with the bitcoin concept in 2009, he may not have envisioned that in less than a decade there would be more than 800 other cryptocurrencies, all gearing towards global freedom from FIAT currencies.
And as this journey continues, Africa must not be left behind in the financial revolution and evolution of our times. When history is being written, and when it shall be read, it would be important that Africans do not become a loose thread in the economic fabric.