Bitcoin Predictions for 2017
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The market for bitcoin never closes, and nearly anyone in the world with an Internet connection can be a participant. However, some surprising bitcoin trends 2017 are also emerging amid the froth. For example, the pace of bitcoin bitcoin trends 2017 as a payment method seems to have slowed among legitimate retailers.
Bloomberg reported in July that of the leading Internet sellers, only three are accepting bitcoin, which is down from five last year. A common complaint was that converting bitcoin to other currencies can come with high fees, making it less attractive as a payment system.
Just as someone would not buy a Diet Coke with gold bullion, neither are they willing to spend bitcoin directly on goods and services. This limitation could be a blessing or a curse. Owning and trading bitcoin without ever converting to a fiat currency allows for faster transactions, fewer fees and lower tax exposure — but it also discourages any financial diversification beyond investing in other cryptocurrencies.
And bitcoin trends 2017 a nod to the original use for a blockchain, any company or person desiring a private, trackable currency can now have bitcoin trends 2017 — provided they can get others to accept it. Bitcoin seems to be riding the coattails of excitement about other blockchain possibilities, and there is no way to tell where the price will go from here. We continue to view any investment in a cryptocurrency as highly speculative. They have no underlying assets, cash flows, physical industrial value, or financial claims on any company.
They also have no regulatory oversight to prevent fraud. Without anything linking them to actual bitcoin trends 2017 growth other bitcoin trends 2017 their perceived scarcity, they are susceptible to huge price volatility. And as the value of blockchain-linked assets continues to grow, so too does the likelihood that governments will begin to view them as a threat to their sovereign ability to wield monetary policy and regulate commerce.
We only consider or recommend investments that we believe have bitcoin trends 2017 positive expected return over long periods of time. Bitcoin may or may not survive, and blockchain technology will continue to evolve. Some investors have already made a bitcoin trends 2017 of money buying bitcoins or blockchain tokens, and that may continue in the future.
But to us it remains a wager, and not yet an asset with a role as part of a long-term investment strategy. He left a traditional portfolio manager to join Personal Capital to be part of revolutionizing the wealth management industry.
When he's not trading, he loves tracking the markets and scheming about investment strategy. He graduated cum laude with a degree in bitcoin trends 2017 from Brandeis.