Bitcoin Rate: 11 January 2018

Thursday, 11 January 2018 11:52
Published in Bitcoin Rate

Bitcoin Rate: 9 January 2018

Tuesday, 09 January 2018 13:04
Bitcoin Rate 9 January 2018
Published in Bitcoin Rate

Bitcoin Rate: 8 January 2018

Monday, 08 January 2018 11:09
FB Rate 8Jan18
Published in Bitcoin Rate

Bitcoin Rate: 4 January 2018

Thursday, 04 January 2018 11:42
FB Rate 4Jan18
Published in Bitcoin Rate

Bitcoin Rate: 3 January 2018

Wednesday, 03 January 2018 11:17
Bitcoin Rate 3 January 2018
Published in Bitcoin Rate

Bitcoin Rate: 2 January 2018

Tuesday, 02 January 2018 11:51
FB Rate 2Jan18
Published in Bitcoin Rate

Reason for Bitcoin value fall

Friday, 22 December 2017 08:29

First of all, no one knows for sure. But here are a few reasons at play:

  • Supply: Roughly every 10 mins, 25 new BTC are issued ("block reward"). At ~$230 per BTC, that's ~$830K new BTC a day (25 x 6 x 24 x 230). As many miners sell most of the block reward to recoup the cost of mining, for bitcoin's price to remain constant, these new BTC have to be absorbed (=bought) by market participants.

  • Demand: While the number of transactions are trending upwards (see Bitcoin Number of Transactions excluding Popular Addresses), it seems that there is not as much new interest in investing into bitcoin at the moment. Interest has stabilized, but may not be outstripping demand. Google Trends - Web Search interest - Worldwide, 2004 - present

  • Risk: In addition to the price risk from the fluctuating exchange rate, there is currently a very heated debate about the bitcoin 'software' with competing proposals on how to scale bitcoin in order to facilitate more transactions (BitcoinXT, BIP10x). Without going too much into detail, the discussion questions some of the core principles of bitcoin. (high-level overview: Brief thoughts on the Bitcoin block size debate)

Published in Bitcoin News

Bitcoin Value: Friday 15 December 2017

Friday, 15 December 2017 13:00

Bitcoin value Friday 15 December 2017

$17,709.47 // R237,652.83

Published in Bitcoin Rate
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