Bitcoins have been trying real hard to make ground as a potent alternate currency. Here in this article, we will take a closer look at how the bitcoins are performing in the current market. Since the starting of the year, bitcoin prices have seen a lot of volatility. The price has gone below 200, which is not a good sign. Also there has been a lot of questions about the regulatory aspects of the digital currency.
Bitcoin has had a pretty mixed quarter to say the least. The alternate currency has shown some promise by bagging in some major investments from VCs. At the same time, bitcoin has suffered from a bout of price volatility which has really hampered the investors’ sentiments.
It remains to be seen whether Bitcoin can prove itself in the long run. Here we would only consider its performance in the first quarter. We would look at some of the key areas where it has started circulation. It would be interesting to see the impact this has on the bitcoin for a long run.
News on Bitcoins
This quarter saw Bitcoin get a record breaking $226m investment from the venture capitalists. Two firms namely 21Inc and Coinbase got a mammoth $116m and $75m investment respectively. This puts bitcoin on the map and makes the digital currency look like a potent force.
Bitcoin price saw a lot of volatility at the start of the year 2015. Over the past three weeks the price has stabilized, albeit a little. Sometime in January the price bowed down to a level of around $175, down from the healthy levels of 500 where it was during 2014. A major reason behind the stabilization might be the use of bitcoin in mainstream areas.
Bitcoin Financial News
Bitcoin has started being used for new purposes like donation, ads and so on. With the usage increasing, it would be interesting to see if the digital currency would be able to make a mark in the market.
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