Last updated on September 20th, 2016 at 02:17 pm
Bitcoin worth prediction – the Bitcoin future value is something that anyone considering cryptocurrency is going to be thinking about. Not that long ago, bitcoins entered the global market and at the beginning of 2013 were selling for only $13. Currently a single bitcoin worth sits at about $650 USD. Given this data, it is reasonable to assume that the value of bitcoins will continue to rise, according to Chris Dixon, an Andressen Horowitz partner, states that a single bitcoin worth could easily be $100,000 per coin.
It may sound strange but a prominent partner, tagged with the big-name Silicon Valley venture capital firm Andressen Horowitz has pointed out the fact that bitcoin is likely to dominate the payment market very soon. Furthermore, he added that the price of bitcoin and a single bitcoin worth is going to skyrocket the market provided the same trend persists for a while.
Additional factors play into the entire value of the bitcoin or bitcoin worth. In order to understand how a single piece of data (since cryptocurrency is nothing more than a block of data), could be worth such an amazing sum, it is necessary to understand the supply and demand as well as the versatility offered through this type of system.
The first thing to note is that Bitcoins do not have an unlimited sum. In spite of how they are created, there are only a limited number of bitcoins. This means that the monetary or exchange value of bitcoin, what a single bitcoin worth increases dramatically. There are additional benefits, which help to drive up the price of bitcoins. Using bitcoins allows an individual to mask their identity unlike other forms of payment. This unfortunately has led to some controversy involving illegal activities, which dropped the price from almost $900 USD per bitcoin to its current rate.
There are some advantages, the entire system is completely transparent, open sourced software and that means that everything is broken down, there is no governmental control, no barriers between countries. It is part of the excitement.
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Dixon, a partner with the big-name Silicon Valley venture capital firm Andressen Horowitz, also added that just like domain names which were earlier deemed as analogies are now worth to buy at high prices. A single bitcoin worth will also excel like the domain names. The value is also tied not just to the currency but also to the software behind it. The bitcoin software runs on thousands of machines across the globe and pieces of this highly complex algorithmic-based program have already been used to create a number of other programs.
Bitcoin Worth Predictions
This function also increases the value of anything that uses the system and that includes its primary function as a vehicle for the cryptocurrency. All of these features, these elements contribute to speculation that a single bitcoin worth could conceivably reach $100,000 per coin, even if the idea of a single denomination of currency having such a high exchange rate is shocking. The truth of the matter is that the bitcoin worth continues to increase and people predict the bitcoin future value will continue to increase.
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