Bitcoin Price Rate Reaches its Highest Price Ever:-
Digital currency Bitcoin has topped $7,000 (about £5,327) in value and is predicted to soar even higher before the end of the year. Released in 2009, it had virtually no value
until 2013, when it climbed in price from a few dollars per Bitcoin to peaks of $1,200. Since then, it’s fluctuated up and down – until this year, when it’s been steadily climbing to new highs month after month.
How will it affect you?
You don’t need to mine Bitcoin these days because you can simply buy it, which is much easier. Mining has become more difficult as the number of people involved in Bitcoin
has increased. To compete, you need a top-end graphics card and a willingness to burn through electricity to keep your mining rig powered.
To trade Bitcoin, you can simply buy some and hang on to it until the prices go up. To do so, you’ll need a Bitcoin wallet – there are plenty of guides online, but
a good place to begin is bitcoin.org/en/gettingstarted.
You don’t need to buy an entire Bitcoin to get started, which is handy because the high price has made that increasingly difficult.
What do we think?
Is it too late to get on the Bitcoin bandwagon? It’s impossible to say because the value fluctuates so much. You could buy at $7,000, and the next day the price could nosedive to
nothing, or it could leap to $10,000 by the end of the year. It was certainly easier
to get into Bitcoin back when it was almost worthless and the risks were lower. But if the idea intrigues you, there’s no reason not to dip your toes in the Bitcoin waters – just
don’t expect to get rich overnight.