Bitcoin is back in the headlines of late due to it’s continued adoption into the mainstream media news cycle in addition to a recent price surge. With Bitcoin hitting a 2015 high of $330 last week and the growing fervor around blockchain technology, excitement has returned to the ecosystem for what is shaping up to be an exciting 2016.
Bloomberg and the Economist are two recent examples of media behemoths portraying Bitcoin in a positive light via its fundamental roots in blockchain technology. The blockchain is being viewed as a powerful technology that could bring organization and record keeping into a new era via “trustless” functionality. It’s through the blockchain that the financial world is looking to evolve within, and it will be interesting to see if those firms ready for adoption in the short term will be able to fend off the decentralization disruption impacts of this gamechanger.
Price action has also been another huge story in the cryptocurrency community. There was a time this year when Bitcoin was well below $200 per coin, and the death knells were ringing throughout the financial sector. Well, those days are gone and Bitcoin has been on an absolute tear lately hitting as high as $330 in recent days. Speculation around the price appreciation center around China – are people trying to position their money to move given recent threats around capital controls, or, are the Chinese viewing Bitcoin as a potential long term solution?
Looking ahead, 2016 is shaping up to be an exciting year for the technology. With the return of “the hype” back to Bitcoin and the concurrent price appreciation to match, this story isn’t over and this might just be the beginning.