It has been great for the last few weeks with Bitcoin price momentum going upward in the positive side daily. When will it end? or is this another bubble to $1000 mark and then pop again down to the $200? No one know.
As far as I know, and I’ve been following it daily. I feel so itchy to jump when it was around $300 last week knowing that it used to be in the $220 few weeks ago. So I thought maybe $300 is all it will get and will go back down again, but apparently not.
The surge in Bitcoin price appear to be from the help of China Bitcoin trading. In addition to Europe decided not to tax Bitcoin VAT that is. So maybe the news from Europe and high surge of Bitcoin trading in China contributes to this upward trend in price.
The thing about Bitcoin is that it’s unpredictable, however lately technology has been looking into the the Blockchain side of Bitcoin. Maybe Bitcoin price is one thing, but Blockchain might be another technology where merchants can adopt or newer technology can use Blockchain for something else.
The way it work as I know it. Once all the Bitcoin is mined, all the hardware to mine Bitcoin will be useless. This is when all the merchants will be the primarily dominating the Bitcoin network transactions Blockchain. So maybe by the year 2040 or somewhere there we will see the world will be using Bitcoin as a single currency.