Bitcoin World Grows With a 1,000% ROI Since Hitting Bottom in 2017
What is the most successful asset found on worldwide financial markets? It is Bitcoin, which recently climbed to its all-time high trading at $2,748, representing a one day, 10 percent rise.
Had you purchased Bitcoin in the late summer of 2015, you would now be realizing a return on investment (ROI) of 1,000 percent. There is currently a $44 billion realized in market capitalization.
Those “in the know” believe that the lack of certainty in the global economy is forcing this uptick, but surely a group of factors are at play.
Japan, along with a similar interest in evidence in South Korea, has shown they want Bitcoin to be on a more transparent level when it comes to regulations and other legalities.
In addition, the Chinese investment community has been at the top of Bitcoin trading and has accomplished this over a long stretch of time. They like it because they lack other chances at varying their assets. It also serves as a means to an end as to getting around regulations on their capital, although this may be inflated given the size of other markets.
The United States (US) Securities and Exchange Commission (SEC), has did not sanction Bitcoin trading at first; however, it is said to be thinking again because of pressure from investors and a hard drop in price when the SEC original regulation was a “no.” This will likely be resolved thereby easing up on what might stand in the way of future expansion.
There is also the love of technology that runs under the surface supporting such things as Bitcoin and the Ether offerings. Technology improves security and helps sites to run better overall, and so there is a proliferation of what is referred to as “smart contracts.” More banks and payment companies are in evidence. Not so incidentally, the value of an Ether is at $197, capped at $18 billion.
Lest we think this has been easy, the former director of the US Federal Bureau of Investigation (FBI), James Comey, testified to the US Congress in April, 2017 that Bitcoin makes it more difficult to accomplish fighting crime. His testimony alone caused the cost to fall to $100, although it bounce back.
When cyberattackers launched WannaCry in early May, 2017, Comey’s fears may have come to fruition across the worldwide web network. By use of this ransomware, the attackers told victims, via their computer screens, that Bitcoin (with it being part of an unknown transaction scheme) payments had to be made before their data would be restored to them. The criminals behind the attack demanded payment in bitcoin before victims with affected machines could regain control.
Despite its progress, this way of monetization has not yet become part of the predominant payment method way of things.
But consider this: if you had purchased, say, $100 in Bitcoin seven years ago, the ROI would be a whopping $82 million. As a sign of the changing times, on May 23, 2017, Fidelity Investments in the US said its customers will be allowed to view digital currency on their website.
While Bitcoin is highly risky, but with these prices going up as they are, true disciples think this is only the beginning.