Thursday, 11 May 2017

Bitcoin is showing signs of becoming a better market

Last week's Price swings upwards for our fellas the bitcoin, making them ascend above $1800. But a few months before it suffered some drops. After news that the people in the bank of china threatened to shut exchanges that violate money-laundering rules. The announcement also prompted few of the biggest sites operating bitcoins. Limiting the conversion to the local currency. 

But if we go back to December 2013. When the PBOC intervened after cryptocurrency reached a record of $1137 then it dropped 51.4% in a week. Only to bounce back to around $1326 and then fall again bellow 600$ the week after that. Bitcoin then settled into a slow descent to $183 by January 2015.

Now in the day the inflation and deflation of the bitcoin don't seem as drastically as back in the day, making baby steps in those changes, keeping this currency not only in a healthy state but also in a way that is easier to predict and study for analysts. 

Here is a list of which countries have most bitcoins friendly.

Estonia: the small Baltic nation of Estonia not only has a history of jumping on the latest technological innovation, but its tech-friendly government seems willing to implement innovations like blockchain technology for healthcare, banking services, and even governance by allowing its citizens to become "e-Residents."

United States: unsurprisingly, the US hosts the highest number of cryptocurrency users and Bitcoin trading volumes in the world. Silicon Valley is currently home to a large number of cryptocoins, has the largest number of ATMs associated with this currency which puts the US in the lead as far as digital currency is concerned.

Denmark: has a clear position on the new digital age, bets on the elimination of the currency as we know it today to favor the use of digital currency.

India: Becomes one of the first countries to experiment directly with the use of the digital currency being the falsification of notes one of the main motivations for this.

As we can see, the use of the digital currency in substitution of the physical currency is quite close; it is only a matter of time for this practice to spread around the world.

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