Volatility of exchange rates – the question of interest for those, who wondered at least once how to profit on currencies fluctuations. If the volatility of fiat currencies is at least predictable, this trick will not always work for cryptocurrencies.
Bitcoin was prophesied different variants of its future destiny – one were ardently convinced in that one day it will replace fiat currencies, others were sure in its total failure.
Despite such scatter in predictions, the fact of that the sudden raise of Bitcoin exchange rate is arousing interest of traders all around the world could not be denied. Once Peter Smith made a guess that closer to the end of 2030 Bitcoin will cost 500000$. Even this sum at first sight seems unattainable, but the stable rate increase occurs.
Seems like nothing can put a crimp into Bitcoin exchange rate going up. Not even the possible network scaling and not even the anti-record of Network dominance index, which is only 47,1%.
Bitcoin conversion rate – exchange of Bitcoin to dream
Literally in the beginning of April people on thematic forums were talking that 2000 is a huge amount of money, hardly attainable even closer to the end of 2017. One of common opinions was that achieving the point of 2000$ is possible only in the distant future and even then, with the wider distribution of Bitcoin and its acceptance by the world community. Apart from the growth “despite of” there are factors, on the contrary, favorable for growth of cryptocurrencies in general.
As for example the recent equating of Bitcoin to the legal payment methods in Japan was the trigger for getting attention of local traders. Moreover, the fact of market capitalization of cryptocurrencies achieving 70 billion dollars could not be brighter evidence for its common growth. Obviously, that Bitcoin conversion rate will arouse more and more interest in such circumstances.
The current position of Bitcoin will depend on many factors – and its future, impossible to say more precisely, is in our hands. The soil on which the rate will grow will be either fertilized by the trust of the world community with the subsequent increase of market capitalization, or it will ensure the failure of the idea of a crypto-currency dream.
Bitcoin currency rate – what can thwart its growth?
The threat of fork still looming – a phantom menace able to change Bitcoin currency rate.
The recent meeting of the directors of Bitcoin companies in New York finally led to a consensus in the scaling of Bitcoin for the sake of increasing the network bandwidth. The side effect of the decision – a possible split of Bitcoin into two parts, which was predictable even before the meeting. Thus, hard fork is unavoidable.
Due to a possible hard fork, a large percentage of people will decide to sell their Bitcoins while waiting for the situation to resolve. Nobody likes uncertainty, and with an incomprehensible market situation people simply will not like to join the ranks of adherents of the crypto-currencies.
The ambiguity once again will prove to the masses that it is safer to keep assets in USD / fiat currencies, gold, etc., thereby moving the approach of world domination of the crypto-currency step away. That’s why for now, unfortunately, the direction of the Bitcoin exchange rate chart is hardly predictable.
Why Bitcoin market rate is growing?
Looking deeper in the waters of cryptocurrencies ocean, one can see bigger whales, financing Bitcoin and interested in long term investments. As you can see the abrupt price increase in digital currency market, the price will not rise like this of $2000 if only that the common users who make relatively small transactions are the involves ones.
Bigger whales don’t care of how much they invest, only thing they care about is for their profit after the price spike off the Bitcoin market rate.
Soap bubble vs bowling ball
To watch the Bitcoin rate today – is the new entertainment for traders.
No less exciting than sports channels, more dynamic than watching soap operas. The current Bitcoin currency rate reminds of a graphical outline of the climb uphill for beginner climbers.
Some say the ongoing increase is just a bubble which might explode anytime soon, so users be ready to face any level of drop in the upcoming months – variants of both the recession and the ascent are possible. Most people see Bitcoin as an investment, but not as a currency, which makes the exchange rate of this currency a bubble, but not a bowling ball that can crush the fiat currencies.
Prognosis of Bitcoin current rate as a source of income
Despite the exchange rate jumps, a lot of people rely on Bitcoin and use it as a primary or additional source of income. It does not seem like Bitcoin exchange rate chart is about to gain stability, allowing to rely on it as the main source of income. However, more and more people are starting to think about investing in Bitcoin or earning on the difference in its rates.
At the same time, the possibilities for the withdrawal of crypto-money are expanding, and new directions of exchange are emerging. Users already do not even have to think about which direction of exchange is the most profitable, since everything is presented in an intuitively understandable way, which makes earnings on the differences in the course even easier money. The full list of exchange directions you could see here.
Summarizing, BTC could be a good source of income and has good prospects for the future if we are really diligent in learning it,venturing or exploring the horizon of potential earnings on BTC.