Predicting the value of a bitcoin
It is surprising that bitcoin prices follow Metcalf's Law but this is a possible indication of its bright future
Bitcoin has become high and dry over the past three months. The price of one bitcoin reached a new all-time high of $19,783 on 17 December 2017, an increase of about 1,824% since 1 January 2017 when a single bitcoin could be had for just under $1,000. Currently, bitcoin is trading at around $11,200, having witnessed the steepest decline at the end of January. Transactions also plunged from a seven-day average of almost 400,000 in mid-December to about 200,000 currently, indicating the possibility of a bubble.