Bitcoin is a digital currency (i.e. cryptocurrency) and was the world’s first digital currency with a decentralized nature. Bitcoin is traded against the world’s major currencies on a peer-to-peer basis with a distributed network called the Blockchain. Bitcoin (and other cryptocurrencies) exchange rate in relation to other major currencies (including the US Dollar) is of course determined by supply and demand, as is the case with other global exchange rates.

Growing interest in and rising investment in Blockchain technology have made buying and selling Bitcoin more accessible to the average user.

In the past five years, Bitcoin’s price surged 85-fold and has seen a roughly 20-fold rise only since the beginning of 2017. On the other hand, this question is probably inspired by the problems Bitcoin has had in the past. At some point, it crashed after a hack of the exchange. Actually, it wasn’t until 2017 that Bitcoin hit a point of mainstream popularity, although Bitcoin’s price has fallen considerably since its highs at the end of the last year and could encounter problems in the future, according to some strategists.

Considering that the question is directed towards the near future, it is important to show Bitcoin fluctuation in the near past. Bitcoin’s price fluctuated wildly last week. Its decline over the last week (a loss of around 16%) may scare some investors.

An analysis shows that a week from now (Monday, January 22), Bitcoin’s price prediction will be between $12,480 USD and $14,358 USD. These are considered minimum and maximum prices expected throughout the day.

In two weeks (Monday, January, 29) Bitcoin to USD predictions are between $11,707, and $13,469. Three weeks from now (Monday, February, 5), Bitcoin to USD price prediction is between $13,546 and $15,586. Finally, in a month from now (Monday, February, 12), Bitcoin to USD predictions are between $12,680 and $14,588.

Have in mind that today’s range is $13,417 to $13,851 and regularly follows live predictions.

Fore a more detailed explanation of the mechanics of blockchain please read this article: What is Blockchain Technology? A Beginner’s Guide

What is Blockchain Technology? A Beginner’s Guide

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Posted by Min Park

Blockchain Marketing Consultant

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