a quick update, BitCoin hit $3000 USD a few days ago, and has since retraced to 2700 USD at time of writing:
Digital assets are a new concept but they seem to be establishing themselves with very short accumulation periods before further advancing. Despite such a significant growth rate the bitcoin cap is still tiny given that its a truly global currency.
As per my earlier post, coinspot.com.au is a good way to enter the market. FYI, its possible to buy portions of bitcoins, e.g. 0.1 bitcoin. In fact there is no minimum entry cost as there are no fixed trading fees as such. It costs the same to buy 1 bitcoin, or 10 separate parcels of 0.1 bitcoins. behold the digital revolution! If you click on the link you'll see getting started is fast so there is no complexity barrier in terms of making this part of ones strategic investment portfolio.
Why is bitcoin growing so fast? A whole range of new business models are made possible and indeed these are rapidly emerging. Most other digital assets are 'pegged' to and traded with bitcoin, further driving demand. See google.
Whats next for bitcoin? my personal guess - the traders will keep it zigzagging between 2500-3000 with good entry points for the next 1-2 weeks. I suspect though that once we cross the 3000 USD mark the next psychological barrier is 10k as per the video in prior post (and no, its not mine).
