Some More Reasons To Buy Bitcoin

By CryptocurrencySep 04, 2017 04:20AM ET

www.investing.com/analysis/some-more-reasons-to-buy-bitcoin-200211298

Some More Reasons To Buy Bitcoin

By | Sep 04, 2017 04:20AM ET

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The summer of 2017 proved to be quite lucrative for many currency assets, for example, an increase of more than 10% for the Canadian dollar, and a little over 6% for the Euro. However, these results pale in comparison to what Bitcoin demonstrated. Between June and August, the rate of the world’s major cryptocurrency doubled, shooting up by 100%. It should be noted that the cryptocurrency segment is experiencing a real boom, relying on the Initial Coin Offering (ICO), as well as the growing popularity of e-commerce in Japan and South Korea.

The latest news from the world of Bitcoins says that Blockstream Inc., plans to make it possible to send Bitcoins anywhere in the world via satellite signals, so that people who do not have access to internet can trade and mine cryptocurrencies. The company positions this service as an additional way to improve the reliability of data in the Bitcoin blockchain in case of network interruptions. These reports spurred speculative interest in the asset, and as a result, the Bitcoin price shot up by more than 50% since the beginning of August. It is worthwhile to note that the value of Bitcoin, as with any other financial instrument, is inextricably linked to speculation.

The rate of the cryptocurrency exhibited a flabbergasting take-off, that the looming and inevitable question is: “Will you forfeit another opportunity of profit?” If Bitcoin does not tickle your fancy, Ethereum is currently trending the charts: this year Ether appreciated by more than 4000%.

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Mar 19, 2025

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Some More Reasons To Buy Bitcoin

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