What is the Future of Bitcoin?
Bitcoin drastically plummeted in the last two days. In December 2017, it was at an all-time high, it peaked close to $20,000. However, this week it slumped down to a low of $6,000 with an uptick back to $8354.04 today. U.S Banks and banks in the U.K backing the credit card company made its stance to ban its customers to purchase cryptocurrencies. Is bitcoin doomed, or will the change made after the U.S government regulates the cryptocurrency industry allow bitcoin to rise again?
What determines the price of bitcoin?
Bitcoin trading relies on the cryptocurrency exchange, Coinbase.com is the parent company of GDAX, or Global Digital Asset Exchange. A hub for traders and major companies. This determines the price, or discovery — the process for the cryptocurrency exchange to tell the market what is the rate of bitcoin.
Will bitcoin stabilize?
On February 6 a hearing with the U.S Senate Committee on Banking, Housing and Urban Affairs raised the question, how can policymakers to legislators deliberate on the cryptocurrency regulation?
The future of bitcoin is not certain but there is speculation that it will prevail in the industry once there is a clear understanding from the SEC and U.S Treasury. Once the hard question is answered on how the U.S government will oversee and enforce future regulations on cryptocurrency.
Now Accepting Bitcoin
Bitpay integrates into various eCommerce platforms, even a few brick-and-mortar companies. Founded in 2011 in Atlanta, Georgia, United States. It serves as an alternative form of payment to accept bitcoins. Processes over one million per day.
Shopify, Magento, and WooCommerce are all eCommerce platforms for sellers to set-up an online store. It permits its merchants to accept bitcoin through Bitpay. Current sellers on Shopify, Tortuga Backpack to Enclave Eyewear are motivated to receive bitcoin from customers: minimal to no fees, capture a new audience, and no chargebacks plus additional pros listed on its website to accept Bitcoin.
Additional eCommerce companies include but not limited to OverStock.com, Expedia.com, and NewEgg.com.
What’s Next for bitcoin and cryptocurrencies?
Experts speculate cryptocurrencies may surpass what we saw last year in December, when it came close to $20,000. The forecast is bitcoin surpasses the trillion-dollar value mark and reach $50,000. However, bitcoin may not be the cryptocurrency to watch. It is not the exchange-traded fund (ETF). The ETF is an investment fund traded on the market. There is another player, it is the digital token ethereum, it can build blockchain applications moving ethereum as the digital token to watch for increase in value and security.
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