Ring any bells? For the past few months, Bitcoin has been in the spotlight as its value shot straight up from a mere $0.08 in 2008 to a whopping $17,000 in 2017. In case you missed out on Bitcoin, we’ve got you covered! So grab yourself a nice cup of tea and get ready to have your mind blown. From explaining what is Bitcoin to revealing why is it so popular, this article has it all.
It is a decentralised cryptocurrency that works without a central bank or single administrator; in simpler terms, Bitcoin is basically a virtual coin designed to be ‘self-contained’ for its value, with no need of banks to control the flow of exchange of money.
The answer is “Nobody knows”. The truth is cryptocurrencies are too unpredictable and can shoot up or down at any point in time. It is thus difficult to predict how long this particular bubble will sustain. Also, it is advisable not to make an entry into this digital currency without any idea or expertise in cryptocurrencies.
So that’s it, folks! Put on your thinking caps and tell us what you think about this trending topic in the comment section below.
Watch this video by The Guardian to gain further insights.
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