Yesterday October 12th Bitcoin price a little shy from 250. Today October 13th 2015, Bitcoin reaches $250 that we haven’t seen for weeks. A few months ago Bitcoin price was at $340, it brought a lot of joy, but then it didn’t last long.
Speculation earlier this year, Bitcoin will reach $500 by end of 2016. Well, that for sure is a possibility, and I hope it does because I do have some Bitcoin saving 🙂 $500 will not make me rich, but at least I will have more money than now. Even if Bitcoin reached $1000 again, I wouldn’t be rich either because I didn’t save any of my Bitcoin much until the price dropped and I don’t see the point of mining and selling.
Yes, I am one of the early Bitcoin mining people, mine Bitcoin with a computer CPU, gradually went on to GPU and then to ASIC, today it’s a total loss if anyone even mine Bitcoin. Bitcoin now a day are for commercial, even if you have free electricity, it’s not going to help much.
Now going back to the price of Bitcoin have a good start this week, the question is, will it hold? I don’t think so to be honest with you. I want to be optimistic, but I’ve went through this path before. Most likely it will hang around $250 then start to drop back to the $240, however I’m very optimistic that Bitcoin price will not go down to $100 as I think that will be the end of Bitcoin if no one jump in and buy Bitcoin at such low price. I don’t think that will happen because a lot of future technology development designed for Bitcoin, or have Bitcoin in mind.