The following article represents the opinion of its author and does not constitute as investment advice. Bitcoin is a very volatile currency and you’re putting your capital at risk when investing in it (just like any other investment).
2017 will be upon us soon enough, so it should come as no surprise that many bitcoin experts are looking ahead to the upcoming year. Given that bitcoin has built in features to encourage its price to rise over time, and given the growing acceptance of both non-government currencies and digital currencies, there are plenty of reasons to be optimistic.
Understanding the anti-inflationary features of bitcoin is essential to understanding its price. Bitcoin’s price back in May weighed in at “only” about $450. In the run up to the new supply for mined blocks being cut in half bitcoin’s price began to rise, breaking the $750 mark in mid June. Bitcoin’s price has declined a bit since, but is still about $600, far higher than it was earlier this year.
The Bitcoin reward for mining won’t be halved until early July in 2020. Regardless, the bitcoin’s price will likely continue to trend up through 2017. This doesn’t mean that bitcoin won’t suffer setbacks, but