The last thing on every analyst’s mind was Bitcoin surpassing the gold rate. Even the tech-gurus could not predict it, as gold is a league of its own. A lot was dependent upon the US inflation rates and China’s trading opportunities, while political instability being a constant factor. A volatile asset witnessed the making of overnight billionaires in a matter of seconds, when the price jumped from $700 to $2100+. The youngsters, who were merely experimenting with it, became “accidental millionaires”, and history was made. Dash, Doge, Litcoin, PlexCoin, Ethereum and many more cryptocurrencies made their way to the volatile market to leave a mark of their own. While the price of gold remained flat in the last year, there has been an eruption of the virtual currencies while bringing down the fiat currencies. With the market trends going anywhere with prediction, the shift is incorrigible, the facts are surprising and more shocks are due.
A closer look in the historical rates of Bitcoin raises the question about the future of cryptocurrencies. With a surge of supply and demand, analysts are marking the mining to be completed by the year 2041. What needs to be seen is the price volatility post mining. The world changes at the speed of light, they say, the world of technology is even faster, quicker, not only in terms of change but also in terms of implementation. shows the price volatility in Bitcoin in the US Dollar since Sep 2015. The daily data for the Bitcoin Price Index have been derived from coindesk