ParcelHero has said that cryptocurrencies will begin to move away from the silk road and onto a path with more respectability in the near future, which could lead to currencies like Bitcoin reach five digits in a very short space of time.
Since the beginning of October, Bitcoin has seen its value soar, as all cryptocurrencies move from the dark web and into the light. ParcelHero has said that the value of Bitcoin will continue to rise at its reputation begins to improve. The e-commerce fulfillment expert has said that as futures trading and Amazon plans to get a green light Bitcoin will become more and more valuable.
The Head of Consumer Research for ParcelHero, David Jinks MILT has commented that the CME futures market has double results of potential inclusion and with the potential acceptance by the international online giant Amazon on the horizon, Bitcoin could see its value increase to $7,000. This however doesn’t seem to add up, those who own Bitcoin don’t actually spend their digital currency, whether it’s for illicit products on the dark web or for furniture from the retailers that are already accepting the currency. Most people see Bitcoin as an investment. If this is the case, then it is confusing why Amazon adopting the cryptocurrency is an exciting prospect for investors if they are unlikely to spend it. The simple answer seems to be that the more mainstream cryptocurrencies such as Bitcoin become, the more valuable they are. This is because the larger the user base becomes, the more the price of Bitcoin will increase and therefore increase its resilience.
It was a rumour that in mid-October Amazon may accept Bitcoin, at the company’s Q3 results meeting increased the value of a Bitcoin to around $5,800, a record level for the time. With a surge seen when the acceptance is rumoured, it is worth considering what would happen when the currency is actually accepted.