The constant slowdown in the growth of money supply has significantly contributed to raising the demand and price of Bitcoin. Experts believe that will witness a record increase in the price of Bitcoin and it will not be because of any unethical reason but solely because of the above-mentioned reason i.e. slow down in the supply of money.
Bitcoin is a renowned Cryptocurrency that is used for transferring money instantly without the involvement of any central authority. Most people consider Bitcoin as a popular future Digital currency. In fact, Bitcoin has become very popular and common in the eCommerce industry. It is one of the chief reasons why most of the experts are looking forward to 2016 is the different factors that will drive Bitcoin at a superfast speed. Further, using Bitcoin for making transactions requires a payment gateway. Cryptex Technologies holds expertise in developing payment gateway for secured Bitcoin transactions. Statistics reveal the continuous and steady growth in the use of Bitcoin for making transactions. In July 2013, the rate of Bitcoin transactions was 97.91 million, in 2014 it increased to 636.26 million and in February 2016 it was 112.4.79 million. This clearly shows that this 2016 Bitcoin will witness further growth. Production of Bitcoin is controlled by an online mining process that is initiated by solving complicated mathematical puzzles. The one who solves the puzzle in the least possible time frame is rewarded with twenty-five new Bitcoins. This is the way Bitcoin was introduced and after the evolution of Bitcoin drastic elevation was observed in the popularity of the same.
The most interesting aspect of Bitcoin is the fact that the value of Bitcoin is never static, instead, it keeps on changing. The constant increase in the value of Bitcoin is also a contributing source that leads to the higher demand for Bitcoin in 2016.