Bitcoin prices are going up, and Bitcoin value is going up. Bitcoin value went down earlier this month, but at the start of this month it was more valuable than it ever was before. Bitcoin is not a stock – but it is traded in a way that’s similar to how most people think a stock is traded. Bitcoin is like an exchange-traded fund, but it’s not traded on any “major” exchange like a stock. Today we’re going to give an estimate for how valuable Bitcoin will be by next month.
Who’s the Bitcoin expert?
Don’t believe the hype. One whole heck of a lot of people are coming out of the woodwork here near the end of 2017 to suggest they know where Bitcoin is going, where it came from, and what’s going on right this minute. They’re all speaking nonsense. Just like the “experts” that knew the impact The Internet would have on our planet back in the early 1990s. It’s nonsense – nobody knew, nobody could possibly have known.
The price of Bitcoin and other coins that’ve come after Bitcoin can be tracked. Nobody knows exactly where the price of any one coin is going, but those familiar with the principals of the stock market can generally get a grasp on how prices of Bitcoin and other cryptocurrencies move.
Satoshi is the first of two names of the person or group of people who invented Bitcoin: Satoshi Nakamoto. The software to create bitcoin was submitted to the public as open source code in the year 2009. Remember the name Satoshi.
What is Bitcoin?
Bitcoin is code. There will be a limited amount of Bitcoin in the world, though at this point not all bitcoins have been created. A single bitcoin can be generated by mining – this is done with a special program on a PC, and uses the processing powers of either a CPU (less powerful for this) or a GPU (far better for this).
The total number of bitcoin that’ll ever be in the world is 21 million. It’s estimated that this number will be achieved at some point inside the next 200 years – though the timing/compute power/etc hasn’t been re-calculated recently enough to know for sure – plus it all changes moment-by-moment.
When this article is set to be published, Bitcoin will be worth approximately $15,520 USD. It’ll be that amount of United States Dollars per one single Bitcoin. One major reason why this amount keeps rising is the fact that you can purchase a fraction of a bitcoin. A fraction of a bitcoin has its own fractional value: one satoshi is 0.00000001 bitcoin, and 1⁄100000000 of a Bitcoin is called one satoshi. Once you have 100,000,000 satoshi, you have one bitcoin.
How much is one Bitcoin worth?
Like I mentioned above, the price of one Bitcoin right this minute (when this article is set to be published) is around $15,520 USD. By the end of the day, it might be $16,000+, or it might be less than $14,000. It’s possible, but increasingly less likely that the price will move up or down further than 16k or 14k.
Below is a chart of the price of one Bitcoin at several points in recent history.
Bitcoin Value in $ USD
December 1, 2016: $744
January 31, 2017: $1,000
October 10, 2017: $5,000
December 1, 2017: $10,800
December 6, 2017: $16,300
December 16, 2017: $19,500
December 21, 2017: $11,200
December 26, 2017: $15,520
January 26, 2018: See below
The price of Bitcoin might be $9,000 by next month. It might also be above $20,000. The price of Bitcoin is extremely volatile. It’s not a gamble if you’re able to watch it closely. If you put your life savings into Bitcoin and you sit back and forget about it, you might go broke.
Do not take anything I’ve written above as financial advice. Neither I nor SlashGear is liable for any cash or credit you jam into Bitcoin or any other Cryptocurrency at any point before, during, or after reading this article. Your financial future is your own.
If you’d like to learn more about the future of all cryptocurrencies, tap into the SlashGear cryptocurrency tag portal right this minute.