Bitcoin price versus the U.S. Dollar is the most searched keyword for Bitcoin, along with “What is Bitcoin?” The Bitcoin price is important under many circumstances, primarily exchange rates into any fiat currency, which are are based on U.S. Dollar rates, to some extent. Now that Bitcoin price has more than doubled since January, the Bitcoin trolls and haters are noticeably silent this holiday season (Funny how that works.) Now that the good times are rolling, again, for Bitcoin as a global currency and exchange of value, how far can this go? What is the ceiling for “The future of money?”
Some in the mainstream have been actually beating the drum in favor of Bitcoin as a long-term investment. Henry Blodget of Business Insider used Bitcoin’s peaking value, back during the Mt. Gox bubble in the fall of 2013, to pontificate a $1 million value down the road. That article received over 100k views, at a time when Bitcoin couldn’t have been more exciting to the mainstream, leaping from $125 USD to over $1000 USD in one fiscal quarter. Recently, The Street took Bitcoin blogger Datavetaren’s word in a recent interview that not only will Bitcoin reach $1 million USD in value, but it will replace gold as the economic “safe haven” of choice. In a Bitcoin bull market, are we just taking a trip to Fantasy Island, or is their real digital gold in these economic graphs, long-term?
If you look at Bitcoin from all sides, it is hard to come up with a failing conclusion, if you go out far enough. As Nick Cary tweeted this morning, Bitcoin daily transactions are setting records this holiday season, passing 100k per day. So demand and usage are at all-time highs. As Bitcoin price continues to increase, the mainstream media struggles to […]
