The price of bitcoin is currently standing in the low $220 range. In other words, bitcoin is simply hovering. While there have been occasional drops to say $214, for example, it always seems to climb up just that little bit each time.
When only looking at the price, one would probably assume that bitcoin has little to offer or that it has ran its course and is now overstaying its once humble welcome, but this is not necessarily true. The price is mere tomfoolery when compared to what’s behind the digital currency.
In truth, while the price of bitcoin has significantly dropped in recent weeks, the value of bitcoin has undoubtedly surged into something considerably larger than what it once was. Only a maximum of about 21 million bitcoins have been issued, which means that anyone holding a bitcoin is holding something relatively rare (especially when compared to other available currencies). Furthermore, those using bitcoins are experiencing much more ease in their financial endeavors than those who are currently purchasing them, particularly as many businesses are refusing to lose their own faith in the digital currency and continue their backing of it despite the regular price fluctuations and the general feelings of mistrust.
Recently, a tech retail store primarily accepting the digital currency as a form of payment opened its doors for business in San Francisco. Would such an establishment do such a thing if bitcoin itself had no real means in this world?
The bottom line is that bitcoin is indeed valuable, but its price continues to float. So let’s not judge by what we merely see on the surface. Let’s look beneath the waves and see the fantastic offerings there are to be had.
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