Beat the currency and gold, bitcoin has become the best choice of investment
This year, bitcoin prices once again outperformed all the world’s reserve currency and currency.
Bitcoin price growth rate higher dollar
30% In addition, more than gold and silver, Mexico Bissau, the Russian Ruble became so far (at the beginning of 2017 to the present) the best performing currency.
Money, gold and silver behind
Bitcoin Data Analyst SG Kinsmann provides a table showing, bitcoin prices than other currencies and hedge assets such as gold and silver. As a ranking of third and fourth of the currency and assets, Mexico Bissau and silver and contrast or even less than 12% dollars.
The fairy tale currency competition
So far, 2017 for bitcoin investors and currency traders are competitive success for a year. Some of the top ranked competitive currency or encryption assets are rewarding, the market value of ETH in early April reached $5 billion.
In early January, ETH market value of only $1 billion. In less than 4 months time, ETH Ethernet Token Coin prices over 5 times.
The development of ETH is attributed to the enterprise Ethernet Alliance (EEA) workshop was established, large enterprises, more and more organizations and companies have joined the development community.
However, bitcoin market has experienced great change in the year.
First of all, Philippines and the Japanese government to legalize bitcoin and related enterprises. The government of India announced the launch of bitcoin regulatory framework in May. Japan’s large chain giants including Bic Camera, have a great impact on the domestic technology and consumer markets, they have begun to accept bitcoin payments.
The solution of existing problems of the main factors driving the expansion of recent bitcoin prices or in the network. Bitcoin network 1MB block limit caused the blockchain congestion fees rose sharply and confirm the increase of time.
If bitcoin expansion problem can address this year — the innovation of the existing schemes including the isolation of Bitcoin Core (SegWit), the witness of the Purse team (Extension Blocks) extended block, so the price of bitcoin is likely to rise sharply.
On April 26th, the price of bitcoin officially exceeded $1300, breaking the previous record of $1277 new. But most analysts believe that the current price of bitcoin can not achieve a substantial rise, because Bitfinex and other famous bitcoin exchanges in the banking business problems.
If the contradiction between banks and bitcoin exchange can solve the problem of expansion, bitcoin does not exist, to Japan, India and Philippines popular trend, bitcoin prices are likely to rise sharply over a long period of time.