Back in 2017, Bitcoin surprised everyone with its sudden rise in value in a small period of time. However, the cryptocurrency soon dropped below 10,000 for the first time in several months. While many thought the drop was temporary at the time, the currency dropped below $4,000 for the first time in 18 months. However, it seems that the cryptocurrency is experiencing better time once again as it recently crossed $10,000 for the first time in 12 months.
While the volatile nature of Bitcoin has been well documented over last few years, the currency experienced several false starts during last couple of months. For instance, last year it seemed that Bitcoin was turning itself around, soon its value dropped again to record low once more. At the moment, it’s unclear how Bitcoin will perform in terms of value in the coming days.
However, don’t be surprised if Bitcoin continues to increase its value in the coming months. Facebook has announced its cryptocurrency just few days earlier and the initiative is already looking like a successful one given the large number of users already on Facebook owned properties. However, Facebook hasn’t really been the most positively looked upon company over last couple of years due to several high-profile incidents. As a result, experts have suggested that Bitcoin will increase its value in the coming years if it proves itself as a better alternative. Most importantly, with Facebook giving easier access to Libra, it will be shocking if merchants who implement Libra don’t implement Bitcoin.
Despite that, it’s too early to predict anything as several high-profile individuals have claimed that Bitcoin will see increased value over next couple of years. While it’ll be interesting to see how Libra changes the market, cryptocurrencies are more than likely to be popular in the years to come.