The Traderszone Network

Published in TZ Latest News 23 December, 2015 by The TZ Newswire Staff

Record highs predicted for bitcoin in 2016 as new supply halves

LONDON (Reuters) – 2016 could prove to be the year that the price of bitcoin surges again. The reason 2016 looks set to be different is that bitcoin’s price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand. Instead of being controlled by a central bank, bitcoin relies on so-called “mining” computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes.