At the time of writing, and it likely will have changed by the time this post goes live, Bitcoin is worth $17110.24. A staggering jump from the once only slightly over a thousand-dollar worth Bitcoin had earlier this year. And people noticed and got on the bandwagon. Coinbase, a free app that allows users to exchange Bitcoins and other cryptocurrencies, rose to number one status on the app store, and, at time of writing, is sitting there—beating out the likes of Twitter, Facebook, and even YouTube.
Additionally, Bitcoin futures are now in play and might lead to even bigger and more dramatic upward momentum for the cryptocurrency in the coming months.
But not all think it will be a perfect continuous storm. Some claim it is all a financial bubble, one that will pop one day—presumably to disastrous effects.
However, some are not so pessimistic on the matter. Bitcoin has die-hard fans. As the world’s most prominent cryptocurrency, some bet that this is not a bubble, that it will only increase its worth. Time will, of course, be the deciding factor in all of this, but no matter how it resolves, the events transpiring will affect for years to come how the world views and interacts with cryptocurrencies.
Written by Brandon Scott