WOW! What a year 2016 has been for Bitcoin! Bitcoin value has shot up due to a number of factors this year. Looking back to the start of 2016, the value was about $420. This week the price soared to exceed $950. So what factors were involved in the price rise, and what does 2017 look like?
Essentially political and economical instability have all contributed. Individuals and, ever increasingly, institutions look at the leading cryptocurrency as a safe haven much in the same way as Gold and Silver. The price of Bullion will always raise in uncertain times and this has also happened this year. However, the price has gone up so high that Bitcoin looked undervalued. Money has now poured in, and the price has surged.
Causes for the Rise in Value
From Brexit and the unknown implications that will have on the UK economy to the US Presidential election. The recent Italian referendum result and other impending European elections in 2017, to the continued devaluation of the Chinese Yuan there have been multiple, and ongoing reasons for the increases in BitCoin value and causes for BitCoin investment.
A great attraction to this is clearly that there are a finite quantity of BitCoin available. How much quantitative easing have major governments used since 2008 to “print money” and pump it into their ailing economies? Recently there have been dramatic events in India. The government decided to demonetise up to 80% of all currency in circulation. Since this event there has been a HUGE surge in demand in the BitCoin market. BitCoin is seen as similar to Gold now. Every sign points that this trend will continue to grow into 2017. Many commentators are suggesting that the $1000 barrier will be broken early into the New Year. A figure of up to $3000 may be possible in the next 12 months.
This is an overdue post, but an important one as this is my six month update on BitClub Network and how things have gone. The short answer is that they have gone brilliantly, and so far i have seen approximately a 37% return after these six months. The most important thing to remember here is that to achieve this has required ZERO time from me. Once i purchased the bitcoin mining shares i have done nothing, and this continues to demonstrate awesome Passive Income potential.
Brexit and BitClub Network
The embedded video will talk you through the site and demonstrate all the elements within the site. Since recording this video i have recently changed the repurchasing settings for the first time. Up to this point i have set these on 100% repurchase. As i have mined bitcoin this automatically purchased new partial shares, which causes a compounding purchasing effect. However, in the last few weeks there has been a surge in Bitcoin value reaching a recent high of over $700 per Bitcoin. As a result i have altered the settings on all my mining pools to their minimum level of repurchase. Why? Well, now is the time to start accruing bitcoin in our wallets. I believe that this is even more the case following the recent Brexit announcement. We have seen a far greater level of turbulence in financial markets since the UK’s Brexit referendum. People around the world have been taking refuge in Gold and Silver. I think that many may well spread some of their risk into Bitcoin and other cryptocurrency.
My view on BitClub Network remains the same, and that is that this is a very exciting opportunity. I also continue to say that any investment into BitClub Network should be made as a speculative move, rather than a secure investment. However, as such the potential returned and growth could prove to be very exciting.Read More
Bitcoin could be one of the most exciting investment opportunities coming our way in 2016, but many people still have not heard of this fast growing cryptocurrency. Think how fast the use of the internet and other technology has grown in the last ten years. Activities such as internet banking, shopping on Amazon and social media have all grown exponentially. Well, Bitcoin has also grown exponentially since it’s initial launch back in 2008.
If you had purchased $500 worth of Bitcoins around the end of 2011, you would have made a profit of $23,500 by the end of 2015. That would be 1,175% return per annum. Amazing stuff! However, if you had sold your Bitcoins during the highly volatile period of 2013/14 you would have
made over $120,000 from your $500 investment! A return of 8,000% a year.
Above you can see a screenshot from my Bitclub Network account. The three areas of interest are the Wallet, ClubCoin and Mining Earnings. The wallet is money sitting there that i can withdraw at any time. When first started this account 2 months ago i was sending some of my mining earnings into this wallet. The ClubCoin is BitClub Networks own, quite new, cryptocurrency. I received all of these as part of the Founders bonus pack that they were offering at the time. The ClubCoin are now being traded on the open market, and while that market is still quite volatile, but the figure of $2146.41 is their value on the open market today! Now, bearing in mind that i invested $3500 into this i could get over half of that back right now. However, i am going to hang on to them and see what happens to their value over time. After all, it was just a FREE Bonus! The final column represents my mining income to this point. At today’s price of $380 per Bitcoin this represents approximately 10% of my initial investment after just two months. All looking good so far!
We are seeing a huge spike in the value of the new cryptocurrency ClubCoin today, Monday 8th February. Values are currently soaring and are now trading on the open market at about $0.50 per coin. ClubCoin have been launched as part of a Founders Pack giveaway by BitClub Network when purchasing Bitcoin mining shares. When i got my 7,104 i was unsure about what, if anything, these would become worth. However, as you can see from the screenshot taken today, IF i wanted to sell them today i would be able to exchange them for over $4000. A few days ago the value was hovering around half of this. Bear in mind that Clubcoin was only launched back in December 2015 and this growth is very exciting and a significant amount of money is being traded in this new currency. ClubCoin can still be acquired as you purchase into the Bitclub Network’s Bitcoin mining pools.
Should i sell them now? Well, if i did then i would fully recoup my initial investment of $3500 for the Bitcoin mining shares and i would be in 100% profit from now on. However, even though i expect these values to both soar and dip in the near future, i believe that this demonstrates that ClubCoin value is something to monitor for the longterm. Maybe if it reaches $1 per ClubCoin i may be tempted to sell half of what i have and then hold onto the rest for the long term.Read More