We published our original article introducing the concept of cryptocurrencies like Bitcoin and Ethereum back on March 19th, 2017. Even though we discussed why we are very positive on the future of these currencies and how we’ll continue to invest in them, we had little idea of the explosive upside that was about to happen.
Just look at the results in two months since we published our first article until today, May 25, 2017:
- Bitcoin increased from about $1,000 to $2,800 — a 280% rise
- Ethereum increased from about $40 to $210 — a 525% rise
Stunning is probably the best word to describe it. We can only hope some folks started getting into these currencies in the past couple of months. We’ve continued to invest, even though there’s an appearance that they’re getting overheated and there may be a correction coming that could be healthy.
That said, what may be critical here to understand is that the beginning of 2017 may go down in history as the point that the adoption and awareness of cryptocurrencies reached a pivotal milestone. If that’s the case, while pricing will continue to fluctuate up & down, we may never see these particular prices ever again.
Bitcoin has had serious investor presence for some time and now Ethereum, which is our favorite and we explained why in our original article, is riding the Bitcoin wave but also has so much more going for it. One example of the kind of practical and important things that Ethereum can do is well represented in this article around a more open and fair approach to the online gambling industry.
Here we are just 2 months from our first article and these new currencies have more than doubled or quadrupled. There are predictions about the next target that Bitcoin will smash through. Some say $3,000, others $6,000, and we are now hearing predictions from credible parties that, in 10 years, Bitcoin will be worth $500,000 to $1M. Where exactly the pricing is headed and when is anybody’s guess at this point.
Regardless, it appears that the proverbial cat is out of the bag now and we’ve reached a whole new era of awareness around cryptocurrencies. This is evident that by the constant segments being run by CNBC and others about Bitcoin being the “new gold” and such. It was only a month ago that 1 Bitcoin surpassed the price of 1 ounce of gold at around $1,200. Now, that’s a distant memory and there’s not even a contest there. This article is being posted on a day that Bitcoin can easily hit and surpass $3,000 in a few hours.
Let us know your questions & thoughts around this; are you invested in any cryptocurrencies yet? Are you planning on putting money into them? If so, what is your personal trigger to do it?