Last week or whenever it was I posted, the price per bitcoin was roughly $7300. The price right now is just over $8300. It’s a very volatile trading market. It could feasibly drop to $6000 by next week, or $10,000. I’m not investing for the short term like that, I’m banking on it 12-24 months from now. I think it will be well over $20,000 by then.
Really hard to make any kind of call, from what research I’ve been able to do, I think it’s just going to get bigger and bigger. Like I said. The biggest bullion dealers in the world accept it as a form of payment, places like Expedia take it too. If it becomes proper mainstream or Amazon starts accepting it, it will skyrocket.
Also the market is capped out. There are 17 million bitcoins in circulation right now and only 21 million will ever be mined. That’s it after that. After 21 million, no more will be created. It sounds like s big number, but in reality it’s pretty small compared to say gold and silver. Gold for instance mines about 50 million Troy ounces per year.
I’m no financial expert, more of a gambler than anything. I will put my money where my mouth is if I really fancy something strongly though. It will be interesting to watch this one play out over the next few years.