Have you seen the price lately? In your Bitcoin wallet, the price is the highest it has been in over 3 years. It’s incredible just how much hype the recent price rises have brought to the cryptocurrency economy. We’re likely to see even further price gains, as the growth has been very stable in the past few months. The best bitcoin wallet’s volatility charts have shown a great amount of stability in the growth of the market.
The Best Bitcoin Wallet Volatility Graphs
Looking at the chart below, the volatility is very low despite massive price gains.
Clearly, the price volatility used to be at a very high value of 15 just 3 years ago. Now in December of 2016, the volatility of Bitcoin has been steadily dropping. It’s incredible to see such low amounts of volatility in a cryptocurrency. Bitcoin is truly maturing. In fact, it’s even more stable than the Ruble, which has dropped 50% in recent years. Other currencies like the Euro have experienced similar drops, with 30% in a year relative to the US dollar.
Chinese Invest in Bitcoin
It’s well known that the rich Chinese are looking for better places to park their money. Homes in Vancouver, Canada have been bubbling thanks to them. Bitcoin is no exception. Many mainland Chinese are looking to invest in homes for stability in the long term. For the native residents of British Columbia, they fear the new money that’s pouring in. It’s made their real estate prices grow to unprecedented, perhaps dangerous levels. People are treating the homes like a resort home.
When it comes to Bitcoin, price rises are often attributed to the Chinese. Price drops are similar blamed on China. It’s all because the amount of wealth in China is staggering. For a nation that holds over a billion people, this comes as no surprise. The Chinese will look to open bitcoin wallets to hold their BTC in the future. It’s all about the money and growth, as well as stability of investments that entice people to park their money in these currencies. Another reason the Chinese are looking to move their money away from the Yuan and into bitcoin wallets and websites is because of government deflating the value of the currency. The government is very interested in devaluing the currency to increase the Chinese economy’s competitiveness in the global market. But, this is having a negative impact on the rich who hate to see themselves lose money every single year.
Big Companies like IBM are looking at Bitcoin and the Blockchain
IBM is investing heavily in Bitcoin. The company believes that cryptocurrency can change the way the world interacts with money. Over 91% of banks will implement Bitcoin’s blockchain in 2017. Roughly 80% of banks in the world are already working on projects related to the blockchain. The blockchain creates a transparent system for users, and the competition among banks is huge. Every bank wants to become the biggest bank in the world. Interestingly, more than 90 banks in the world are already involved with IBM. Hopefully, we will see companies take steps in implementing better bitcoin wallets in the future too.
One advantage to Bitcoin for banks is the transparency provided for the client. For example, purchasing a house would normally take weeks. This can cause worry for some buyers, as they don’t understand where their money is going at any point in time. Banks want as much trust as possible. After all, they’re handling other people’s money.
A new All Time High
We fully expect Bitcoin to make a new all time high in price. It’s been so long since the last ATH was made. The price of Bitcoin has ranged all the way from $7000 to $200 for the past 3 years. Now it’s finally back at high levels. Technical analysis traders are betting that a breakout formation has formed, and they’re buying the coin quickly. Billionaires are throwing money at the coin as an insurance policy. Finally, bitcoin wallet users are continuing to grow as the price growth increases buyer interest and population. The market has yet to be saturated! Mainstream media sources will report on Bitcoin as the price continues to grow towards record levels.