Unfortunarely, it's getting easier to predict what might happen to cryptocurrencies when the economy takes a nosedive
- Born in the wake of the 2008 financial crisis, Bitcoin has yet to face a downturn like we're currently starting to experience.
- Based on the developments of recent weeks, some crypto market trends are starting to emerge.
- Bitcoin's relationship to gold is strong, futures and options are losing their lure, and stablecoins are on the rise.
Why invest real money in digital coin? Because the payoff a decade from now could be enormous.
When it comes to Bitcoin it's all about the long game, says Abra founder and CEO Bill Barhydt. Bitcoin is flexible because you can break it up into smaller divisions, called Satoshis. In 10 to 15 years, those Satoshis alone could be $1000 a piece. It might take a while for Bitcoin to really start trading at the level of gold and silver, says Bill. Interestingly enough, says Bill, by and large, people who have Bitcoin are holding on to it, just like those precious metals. Once more of it is mined, we'll start to see the market become less volatile.
Once a lucrative exercise anyone could do, bitcoin mining has grown out of control, and governments are weighing what to do.
The term “hodl” originated in a drunken post about Bitcoin from 2013, but it’s evolved into a movement in the cryptocurrency community.
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