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Another Price Increase; Will Bitcoin Continue to Go Up?

Avatar Guest Author 5 years ago

At the time of writing this article, the price of bitcoin stands at about $244.  The price hovered around the $241 mark yesterday, and now we are witnessing a $3 raise.  Yeah, bitcoin…

At this point, while we don’t want to get ahead of ourselves, it’s possible that small, continual rebounds may be in bitcoin’s immediate midst.  There are equal stumbles along the way, but nothing like what we witnessed earlier in the year, and the price always manages to jump back up in one way or another, so at this point it might be safe to pull out our party poppers and pointy hats and get ready for a celebration, because at the rate bitcoin is going, things may be closer to the $300 line than we imagine.  Obviously there’s no way to know for sure, but the streak is currently heading in that direction.

The question that is probably wandering through many minds, however, is whether or not bitcoin investments will remain on the same pattern.  Following a cold wallet hack that resulted in almost $2 million in stolen bitcoins, BTER has recently announced that it will not be able to issue refunds to its victimized customers.  No refunds… All that money gone, and likely to stay gone for a very long time… Things like this are likely to put several people off, so will we witness a decrease in business among exchanges over the next coming months?

It’s possible, and yet if the price does continue to increase we may witness the exact opposite, because the price going up can only mean one thing… That there is money to be made, and bitcoin enthusiasts eager to expand their wallets and build their bitcoin stashes may be willing to overcome their fears out of the prospect of making a little extra money.

What do you all think?  Will bitcoin business subside for the time being, or will the growing price give it an extra boost?  Post your thoughts below.

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