Though cryptocurrency has been around for a while, it has only really picked up momentum within the past few years, achieving record highs. Bitcoin, possibly the most popular cryptocurrency, is currently valued at $8,168.47, up from around $6,200 in February 2018. A bitcoin trader would have had an exceptional day selling on 17 December 2017, when its value ballooned to an excess of $19,700. So will the modern goldrush ever reach its highs again?
September 2019 saw a sharp decline in values of the cryptocurrency at almost a 20 percent decrease, from around $10,000 to below $8,000 (estimated). Though experts claim it is still possible for the currency to bounce back to somewhat competitive rates as it was previously. Investors claim a rebound is possible, but its fate is still in the dark.
Online cryptocurrency apps such as Coinbase and Trezor help investors (or simple trend followers) keep track of their electronic wallets and buy and sell Bitcoin at a touch of a screen (or mousepad). Not only do they have access to buy and sell, they can also keep track of the worldwide trends and market values of cryptocurrency not limited to Bitcoin, but also ethereum, litecoin, EOS, and more. Whether or not the Android or Apple user is just curious as to what the fad is all about or if they are in the serious game, electronic wallets will be seen as equivalent to online banking accounts with major corporations and banks.
If the market for Bitcoin bounces back, it is more intelligent to invest in it now while its value is still decreasing, or if it begins to rise once again, given market speculation leaning on both sides of the coin. Cryptocurrency has given several the chance of making it big, and it is likely that it will for others in the near future.