Well, everyone… Thankfully we can once again start the day off with some good news, as the price of bitcoin has risen by another $10. That’s right, another $10 overnight! And to think in my previous article I was making such a big deal about bitcoin’s rise of $8 over a three-day period!
Now we have something bigger to celebrate, and that is the fact that bitcoin has literally jumped from about $263 to about $273 in just a 24-hour time frame. Is bitcoin gaining its power back? Is the ever-popular digital currency finally on a true path towards growth, recovery and stability?
When I first began with bitcoin, the price of the currency stood in the $500 range. Over the next few months it casually dropped down to somewhere in the 400s, and then hovered in the high $300 range after that. I remember thinking to myself, “My, oh my! This currency is dropping fast!” but I had no idea how fast it could drop until January of this year, when the price of bitcoin broke $200 and found a comfortable spot in the $170 range. I couldn’t believe it, and I suddenly began to think of the days when bitcoin stood at $395 or $450, and I began to wish for those days again (as I’m sure many people were doing at the time).
While it has certainly been a while and it has been a rough and rocky road towards recuperation, I think it is likely that bitcoin is finally on its way back to the top. At the rate things are going, it is quite possible that 2015 will be the year in which bitcoin reaches the $500 mark once again, and as long as we are willing to give bitcoin our patience and support, that day may come sooner than we expect.