Current Bitcoin Prices and Bitcoin Price History
Investing in Bitcoins can make some people nervous, as it’s often said that the price is too volatile and unstable. Historically speaking, the Bitcoin price has had a few periods of rapid change but, over the last year and a half, it has experienced a much more consistent range of value.
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Bitcoin Price July 14, 2016
As of July 14th, 2016, just after the Bitcoins per block was reduced to 12.5, the Bitcoin price is at $662, according to many sources that price the coins. This represents a slight increase from the price before the Bitcoin release rate was halved.
Uncertainty about the future of the Bitcoin price caused a dip in the prices in May, but the trends seems to be going upwards again, as miners are still committed to their investment in mining for Bitcoins. Had there been less support from large mining pools and individuals, uncertainty may have caused a rapid decline in the price of Bitcoins on the market today.
Predictions about the price of Bitcoin are difficult to make but, due to the upward trends since 2015, many have forecasted that Bitcoins will continue to grow in value over the coming months.
Historically High Bitcoin Prices
During the later month of 2013, Bitcoin experienced a historically high value of nearly $1150 US dollars. This is considered to have been a bubble, as it grew from the lower value of $100 in early October of 2013. In late November and early December of 2013, just as the Bitcoin reached its peak, the value skyrocketed downwards and crashed to less than half its highest value, around $500.
Its value rose and fell a few more times until January 2015, when it began to stabilize and even out again. Since then the price has remained at a steady upwards pace from the lowest point of $200, in January, to the $662 it stands at now.
Bitcoin Price Chart
Bitcoin pricing data is available for viewing just as with any other investment or currency. You can see the statistics from the creation of Bitcoin, to the most current data, at websites like this:http://bitcoincharts.com/
What Affects the Price of Bitcoin?
In the case of most currencies, the Central bank and national economy have a lot of effect over the value of the currency. This is not the base for Bitcoins, as they are not centralized nor controlled by any banks.
Bitcoins prices are determined more directly from the demand placed on the coins
themselves. When they are in both shorter supply and in higher demand, the price will naturally go up. If the opposite occurs and people become less interested in buying or using Bitcoins, the price will go down.
As it is now becoming established as a more stable form of currency than it previously was, Bitcoins are expected to be in higher demand in coming years. The halving that took place in July of 2016 might work to strengthen that prediction, as there will be a slower supply of new Bitcoins being introduced into the market and more people holding onto their current supply as an investment.
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