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Bitcoin’s Price Fluctuation

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With Bitcoin’s increased popularity, it is no wonder that blockchain wallets are all the rage. Bitcoin wallet apps were recently some of the most downloaded financial applications in Apple’s online store. Bitcoinist reported on this latest development, as well as the implications and factors surrounding Bitcoin’s price fluctuations and its recent activity. Bitcoinist is a Bitcoin news website where you can find information about Bitcoin and Blockchain technology news, tutorials, and Op-Ed pieces. You can check https://bitql.org/ for further details.

This means that Bitcoin wallet apps have surpassed payment systems like PayPal Mobile, Western Union, among others — all of which saw an increase in downloads over the past year as well. Bitcoin wallet apps offer many advantages such as opening up more investment opportunities to those with limited access to banking services or living entirely “off the grid.” Bitcoin wallet apps are also advantageous to Bitcoiners who wish to remain anonymous.

The Bitcoin industry is ever-growing with new Bitcoin startups emerging all the time. Bitcoinist has also reported on Bitcoin wallets for iPhones and Android devices, as well as Bitcoin eCommerce applications like OpenBazaar’s Buyer Wallet app, which claims to be “the easiest way to load your OpenBazaar wallet via in-app purchase.” The ease of use offered by this Bitcoin wallet Apple iPhone apps may have contributed to its top ratings in the iTunes store. Also, a common feature found in many Bitcoin wallet apps is a newsfeed where you can follow other Bitcoin users and watch their movements within this decentralized economy.

Bitcoin price fluctuations have been quite erratic in 2016. At the beginning of this year Bitcoin managed to reach a new all-time high when it peaked at around $460 USD, but after weeks of staying steady Bitcoin dropped in early March and has been on the decline ever since. Bitcoin reached a low point of about $358 USD in mid-April before starting to pick up steam again.

In late May Bitcoin saw a sudden rise from its price between $410 -$430 USD, but prices have been declining once more since then. This recent fluctuation is likely due to Bitcoin’s popularity combined with some unfortunate events surrounding Bitcoin’s internal structure that prevent further growth.

Before we can understand what kind of forces are responsible for Bitcoin’s recent price fluctuations, we must first establish some background information. Bitcoin is a relatively new digital currency with no central regulatory agency or government managing its value. Instead, Bitcoin’s value is controlled by whatever people are willing to pay for it at any given moment in time.

Bitcoin was created by an unknown person using the alias Satoshi Nakamoto back in 2009 and was released as open-source software in January of 2009 through Sourceforge. Bitcoin price fluctuations also depend on the supply and demand within Bitcoin’s market structure, thus allowing Bitcoin to act as its own self-regulating economy.

As Bitcoin continued to gain popularity throughout the years, more startups began offering services that dealt solely with Bitcoin transactions or conversions into fiat currencies like US dollars or Euros. The increase in these types of companies prompted a need for Bitcoin wallets which are programs that allow Bitcoin users to send and receive Bitcoin transactions.

Basic Concept of Bitcoin

Bitcoin is a decentralized digital currency, meaning that it does not belong to any form of government and is instead run entirely on computers across the world that solve complex mathematical problems. Bitcoin was created in 2009 by an individual or group using the alias “Satoshi Nakamoto,” whose real identity has never been confirmed.

Conclusion

Bitcoin allows users to send and receive money with anyone, anywhere in the world at any time and doesn’t require banks or other forms of financial institutions to complete transactions. As Bitcoin’s popularity increases, so do its value: this means that more people want to use Bitcoin, which makes each Bitcoin worth more than before. Because Bitcoin allows for such quick, cheap transactions (and because there isn’t one specific company responsible for managing it), many vendors now accept Bitcoin as a form of payment. Bitcoin’s value is determined by how many people are using Bitcoin and the demand for Bitcoin at any given time.

Bitcoin has seen its value fluctuate significantly since it was first created in 2009, with some experts even speculating that Bitcoin could fail dangerously in the future. Bitcoin prices saw an all-time high on December 16th, 2017 when one Bitcoin reached $19,783 USD; however, Bitcoin experienced a low on February 6th, 2018 when one Bitcoin was only worth about $6,964 USD–a 56% decrease in less than 2 months!

 

Also Check:

Bitcoin as a Currency

A Beginner’s Guide to Bitcoin

How to Stack Bitcoin Sats in 4 Different Ways

 

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