Bitcoin Value Heads Towards $10,000 Again
Mike Sanders / 5 years ago
Bitcoin value on the rise again
With Bitcoin hitting the $20,000 mark last Christmas it symbolized 2017 as being the year of the cryptocurrency boom. What followed in January though was almost as equally unexpected as the boom. The price plummeted. At one point Bitcoin was worth around a 5th of that when it peaked.
In my opinion, the crash was needed. Bitcoin was struggling to find it’s true value and the popularity was only over-inflating the true level of the currency.
Since the crash though, Bitcoin has stabilized quite a lot. While the price has steadily increased (with some ups and downs) the value is currently consistently at just over $9,000 with the $10,000 mark set to look to be achieved again within the next few weeks.
With a far more stable platform, I’m probably about willing now to suggest that things have found a balance. As such, any further increases will likely be slight and slow, but sure.
Slowly but surely!
As can be seen in the CoinDesk valuation, over the last month Bitcoin has seen a slow but steady trend in the upwards direction. From a stability standpoint, the lack of massive spikes or drops is a major boost for the currency. Something that shows that it may truly now be finding its feel and level in terms of a monetary value.
This, of course, is in no small measure helped by those who got involved in Bitcoin as an investment. Particularly those expecting to be millionaires at this point. Many of those people got burnt as by the time they realized what was happening (in terms of both the boom and crash) it was too late.
We at eTeknix have largely never recommended investing in cryptocurrencies. More accurately, our mantra has always been to not invest what you can’t afford to lose. At this stage though, with the price showing a slow but steady increase, things are probably at a nice stage now to make your blockchain mining well worth revisiting.
If you were interested in mining, you can check out the thorough guide we produced here.
What do you think? – Let us know in the comments!