It is most difficult to speculate on what the Bitcoin price is going to do in the short term, however, we do know that the price will grow in value over time due to strong and bullish fundamentals. Price watchers will be interested to know that Bitcoin could double it’s price in the first 5 months of 2017. This is remarkable growth in value!
Here is a graph showing the bitcoin growth over 6 months – if we take the price 6 months ago $728 and calculate what the growth of your investment would be if you just bought bitcoin with USD and held it safely, the value of your investment would have grown 162% in 6 months. Little wonder why investors are stampeding to buy Bitcoin!
There are a couple of things to remember:-
- Always check the bitcoin price in your country’s currency – there could be fluctuations due to strength of your local currency or demand for bitcoin which could push the price higher than the average globally. Bitcoin is traded in a free market 24 hours per day, 7 days per week.
- The average bitcoin price that is reported is not the price a buyer will pay. The seller, either from and exchange or individual, will add their handling fee.
A graph showing traded volume globally on LocalBitcoins which is an over the counter platform connecting buyers with sellers. This gives an indication on demand for bitcoin increasing.
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