What does the future hold for the leading digital currency in the world, the bitcoin? Based on the result published from the latest industry research, the price of the bitcoin could become threefold and would amount to $92 billion this year compared to the value last year. The price has already increased by around 50 per cent just the few months into the year, what will be its price after another 6 months has passed by and even more years after?
Bitcoin was recorded last month to reach a price value of $780 which is the highest it has ever been in the last 28 months but readjusted by around a $100 dollars just a few weeks later. The few weeks leading to the Brexit voting, the bitcoin community was stirred up which makes the digital currency more attractive in the market.
Starting May this year up to the days leading to the referendum of the United Kingdom to leave the European Union as a member. The price has already increased by around $300 which makes the bitcoin value $648. The price has increased by 63 per cent compared to the price it has in the same time last year.
Due to the continued increase of the bitcoin price, a study conducted by Juniper Research, a firm based in the United Kingdom, has shown that the transactions involving bitcoins could triple and become $92 billion for this year alone. This means that the value will have increased by 240 per cent compared to the $27 billion worth of last year.
One should also keep in mind that the majority of the predictions for the year end figure will be comprised of transactions such as bitcoin exchanges but very little of this $92 billion will actually involve transactions such as buying products.
Bitcoin can now be used in transactions that accept Visa and MasterCard with the use of a bitcoin debit card. There is also an estimated 60,000 merchants in the world that are already accepting bitcoin as payment. For users that are just starting with bitcoins, mining guide to bitcoins is very essential.