THE BITCOIN FORECAST FOR 2016

The 2015 year was marked by strong shocks for the bitcoin. The infrastructure was highly developed, at the same time constantly were talking about the scalability and the blockchain, and the rate was jumping between 150 and 500 dollars. Of course, each of us wants to understand what to expect from cryptocurrencies in a new, 2016. To understand the future we first need a bit of a dip into the past and track trends.

 

2009-2010: THE ORIGINATION

The Bitcoin just started to appear or rather it did not exist as a cryptocurrency. Mathematicians and programmers argue with economists and with each other, and the kernel creators patch vulnerability holes in the source code.

 

2011: FIRST LARGE COMPANIES AND A SHARP JUMP IN PRICES

In 2011, the first major exchanges started to emerge MtGox was the largest of them. BitPay and the black market Silk Road start at the same time, as well as stock exchange GLBSE. At the same time the rate of the BTC for the first time jumped to 30 dollars.

 

2012: ALTCOINS, WALLETS AND THE MINING

In 2012, the wallets were created as a consequence of the fact that in 2011 several serious thefts of the cryptocurrency were happened. The price in 2012 is not particularly moving, but it was offset by speculation on the mining, altcoins, and a variety of games began to be created, in which it was possible to win a few coins.

 

2013: THE CRAZY MINING

After the media already buried the bitcoin, it began to grow by a crazy pace. Attractive success stories about how someone bought coins before and made money out of thin air, together with the emergence of the industry specific equipment for mining, has generated interest to the cryptocurrency mining. This, in turn, positively influenced the rate and at the end of 2013 it amounted to $ 1,000 per a coin. The capacity of the network immediately jumped from 20 to 9000 Thash/s.

 

2014: THE POPULARITY OF ALTCOINS

After discovering a great potential in the technology, venture capital investors have rushed to invest in startups. For 2014 the total amount of cash investments amounted to approximately $ 300 million. However, not all areas of the Bitcoin economy had won.

Given the constant fluctuations of the cryptocurrency exchange rate and the problems with the mining, some started to count the BTC as ineffective and dull. As a result, several altcoins were appeared. Some have had to solve the problems of bitcoin, but some nothing to solve at all, for example, as the dogecoin.

 

2015: HYPES AND THE EVOLUTION OF THE SYSTEM

In 2015 the price of the BTC continued to fall. Some investors get rid of the cryptocurrency, and it fell into the hands of more persistent capitalists. Many bitcoin startups barely survived the winter, other were closed. However, the mining infrastructure on the contrary was expanded, and at conferences started to talk about the blockchain, not about the BTC itself. However, since the end of October the rate of the bitcoin topped at $ 300 and began rapid growth.

SO WHAT CAN WE EXPECT IN 2016?

First, the scaling of the network should happen this year. Now there are a few effective suggestions. By late summer, the network participants will choose the most suitable option, after which it will be supplemented with a variety of innovations.

Also side-chains will be the technological breakthrough, which in 2016 will have to prove their benefit. We can expect that large industrial companies will be engaged in the mining.

BTC exchanges which already now begin to cooperate with each other, the popularization of specialized cryptocurrency ATMs and various cryptocurrency platforms – all this will increase the popularity of the Bitcoin as a means of remittances.

In July 2016, miners will begin to get 1800 BTC per day, not 3600 as before. As a result, the increase the supply of crypto-currencies will drop in half, which means that the rate of the coin must grow.

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