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Bitcoin price breaks $800 USD price point

Bitcoin price breaks $800 USD price point

Bitcoin has broken the 800 USD price point in the run up to Christmas. Typically, Christmas is a quiet period in the markets, but it looks to be a busy time this year, partially fuelled by increased adoption, and the arrival of the latest batches of the Antminer S9  and R4 in time for Christmas, as it is likely to be a potential Christmas present for some people!

The highest price point ever of $1200 USD looks to be on the cards potentially in the next few months to a year, it seems that the price is not going on a downward trend, and this seems unlikely however the scaling issues with Bitcoin need to be addressed.

It is likely that the upward trend will continue, with increased adoption (and only 22 million coins to go around, but this amount has not even been mined yet)

It is recommended to watch this space, as it looks like Bitcoin is reaching heights once more like seen in 2013, however unlike the sudden pump and crash of 2013, looks to be a potentially longer term rise.

The price has steadily risen since 2015, but the rate increased after the block halving of 2016. Now that many reserves of miners have now been sold, the supply constraint has begun to hit the market.

This is all down to simple supply/demand economics. It is now imperative that the Bitcoin community comes to a consensus to fix the scaling problem, then Bitcoins potential is potentially limitless.

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