The past few days have been pretty interesting for the Bitcoin community, with noticeable price changes being recorded across all major exchanges. After nearly an entire year of flat Bitcoin prices, things started picking up again as of Wednesday evening. After a weekend of downward Bitcoin price manipulation, it looks like things have stabilized just below the US$270 mark.
Bitcoin Price Surpasses US$270 threshold, Albeit Briefly
As far as Bitcoin is concerned – according to most people, that is – all that matters is the current Bitcoin price. While it makes sense for people active in the Bitcoin world to know how much bang they get for their BTC, the outside world shouldn’t be too bothered by it. After all, all they can do is compare it to its high peak of over US$1,100 per BTC, and downplay the current price at any given time.
That being said, the recent Bitcoin price trend – moving from roughly US$235 to US$270 and slightly above – has been a cause of great excitement, both within and outside of the Bitcoin community. Many insiders feel this is only the beginning of an upcoming major Bitcoin price increase, whereas others think it is just Chinese investors throwing their weight around.
Whichever party is right in the end, doesn’t really matter at this time. What does matter, is how there is a genuine interest from people who want to buy and sell Bitcoin. Despite what mainstream media wants people to believe, the Bitcoin ecosystem is far from dead and the digital currency is being used in a wide variety of ways.
Just last week, two major video game marketplaces started accepting Bitcoin, as both G2A.com and Kinguin announced the news, to much rejoice of the Bitcoin community. Bitcoin and gaming seem to go hand-in-hand, as the communities are overlapping quite a bit. Just a few years ago, no one would have believed eSports would become such a major hit and they were wrong in that regard, as well.
It is difficult to estimate whether or not these announcements had any impact on the Bitcoin price or not. While both of these companies have given Bitcoin a nod of approval, it’s not something that will entice investors to put their money in digital currency just yet. Most of the Bitcoin trading volume is still coming from Chinese exchanges and the rest of the world is following the price along those lines.
After a lackluster weekend, the Bitcoin price has dropped to the US$260 mark once again and it seems like this could be the new “floor” for the time being. In the world of Bitcoin, exchanges, and finance, these statistics and values can change at any given time and there is no feasible way to predict what will happen next. Traders can only speculate, draw lines on charts, and hope they are right in their predictions.
Bitcoin Price Is Not The Whole Story
A lot of people will be staring at screens and monitors for the next few days to see whether or not the Bitcoin price charts will explode in an either upward or downward direction. While those people waste their valuable time doing so, others are working hard to bring Bitcoin to mainstream consumers and merchants, actively strengthening the Bitcoin network.
There is a lot more to Bitcoin than meets the eye and the current price is just a tiny speck of the ecosystem. For most people the Bitcoin price will be the main focus for as long as they are involved in the digital currency. For some, it will be an investment vehicle. But the smart and the daring, well, they see Bitcoin as the one chance in a lifetime to carve out a path for their own and change the world one step at a time.
The question is: What does Bitcoin mean for YOU personally?
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