Will Bitcoin Boom on Christmas?
Oct 26, 2017 Posted / 4298 Views
With Christmas and the New Year Year just around the corner, many online trading experts and top financial researchers across the globe are giving their big thumbs up, on the promising trend of Cryptocurrency during this festive time of the year.
This phase between Christmas and the New Year is the peak season for retailers, in most nations around the world. Sales increase drastically, as early as the first week of October in the United States and several parts of Europe. In the Canadian region, merchants and commercial brands start their advertisement campaigns even before the Halloween, October the 31st. And, intensify the sales promotion with the greeting of Remembrance Day on November 11.
The streets of the United Kingdom and the Ireland light up to the magnificence of neon lights and crowded bazaars. An old report says that the people of America spend one-quarter of their annual spending during Christmas. The U.S. Census Bureau disclosed the sales at departmental stores augmented from $20.8 billion in 2004 November to $31,9 billion December 2004, to boil down, a boom of 54%. Additionally, there is an upswing of 100% in bookstores, and 170% in jewelry malls. In the United Kingdom, 8 billion Euros were spent on online shopping during Christmas of 2010.
After observing the trend of Bitcoin for the last six months, many online trading veterans predicted that the value of Bitcoin will rise up to a range of $9000 to $10000 in the first week of December, which is quite dramatic and rewarding for investors across the globe. The beginning of 2017 witnessed a whopping rise, and this pattern will continue until the end of the year.
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Whether you are new to the idea of Bitcoin or someone who is an expert in online trading, giving Bitcoin wallet is a worthy gift for yourself, this Christmas. It just like a New Year resolution for a financially robust 2018. In today’s time, with the recent surge in the price of Bitcoin, that too when the global financial conditions are not at its best, is calling Bitcoin investment a no-brainer.
Since the launch in the year 2009, Bitcoin has created a buzz over the trading market, as it presents a sea of opportunities for anyone to take and explore. This has leveraged major investors worldwide to think about Bitcoin a primary or secondary monetary stream. Nowadays, even the entrepreneurs, see immense potential in Bitcoin- and other popular electronic currencies- as a legitimate asset class such as commodities, bonds, or stocks.
In 2017, eminent names such as Sequoia Capital and Andreessen Horowitz are betting on hedge funds, investing hundreds of millions of US dollar in virtual currency funds. Moreover, the overhauling financial structure of Bitcoin and other virtual currencies are developing for the betterment. Coinbase’s GDAX exchange is supporting Bitcoin trading marginally since the March of this year. While Commodity Future Trading Commission is nodding firms to trade digital currency.
Unlike, a currency Bitcoins are not printed by a Government department or financial institution, it is mined by people worldwide. Thus, Bitcoins are limited in amount, like the precious stone Gold, that’s why both are valuable assets. As per the recent data, there are only 21 million of Bitcoins in the world. Meanwhile, the number of coins mined are dipping by half every year. According to many global reports and stories over the print media, popular journals, and hot prime debates on news channels, 80% of Bitcoins are already mined, and the mining process will be put to halt after 2040. This scarcity will inject the value of Bitcoin, and specifically central banks are considering to start bringing Bitcoins as foreign currency reserves.
Like the precious metal gold, Bitcoin is not controlled by the central bank or any federal reserve. It is not printed by the government, even if a country is war-torn and prints more currency to meet the demand, the prices of the Bitcoin like the gold will remain unaffected. Just like gold, there isn’t any reason to invest in Bitcoin. What’s more, a renowned investment analyst cited by the Quartz is predicting Bitcoin to better the gold investment in the coming years.
For any currency, owing a few coins isn’t considered a big investment, but for Bitcoin, a few Bitcoins means a lot. You can invest your Bitcoins and earn big on them. Add to that, the price of Bitcoin is bound to rise with every passing day.
On the contrary, here for Bitcoins, you don’t have to tie yourself in a long-term investment to make great profits. Since Bitcoin is an electronic currency itself, it is a type of investment you can access and be invested any time, like you can use it to buy grocery at a supermarket in your locality.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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