Since shopping online has become a billion dollar a year industry, there have been many forms of payments that have come along with it. Besides being able to pay for your order online with just about any style of currency, there is also a new kind of currency that was taking the world by storm at one point about one year. Bitcoin is an online payment system that was invented back in 2008 and has become one of the leading ways to convert any money into a currency you can use in many places online.
The system was built on the peer-to-peer system allowing users to enable transactions between each other without using any sort of banking system. Bitcoin is considered a decentralized virtual currency and is managed in the United States by the U.S. Treasury. In terms of market value, Bitcoin is the largest of its kind on the market. Recently, the Bitcoin price has been sliding a little more than some experts had expected it to do.
The price goes up and down with each day, but since the company has been involved in random scandals over the last 12 months, the Bitcoin price has come down as more people are losing trust in the Bitcoin as a whole. In recent weeks, the Bitcoin price has been moving sideways, meaning that it has not made a high or a low by the end of the trading day, and that is making it difficult for experts to position the currency on the market.
Currently, the Bitcoin price is hovering around the $230 range and that is causing investors to take a stand on the currency as they wait to see if the price is going to make a move in the upward direction. Because the currency has been seeing a slide in price over the last 17 months, many experts are thinking that it shows the end of the digital currency altogether.
However, this proves exactly the opposite according to sources. Because the price drop is coinciding with the transaction volume, it can be seen as an every day payment method compared to a speculative investment. The overall market transactions have doubled since 2013 and that is because Bitcoin is being used more often. As more consumers, online and offline, become more trusting of the virtual currency, the price is expected to stabilize even more before it goes up at all. If the transaction volume increases through this year and into the next, the price is expected to go up.