Blockchain Real Estate Revolution Could Get Boosted By Bitcoin Price Hike
It was only over a year ago when The Keyes Company introduced only the third Bitcoin real estate transaction, which happened in Florida. Crypto Daily UK reported that, at the time, the price of Bitcoin still stayed at around $10,000, although it did not command the high value that it did during that late great surge of 2017.
The sale of the Miami townhouse was big, considering that it was paid for in cryptocurrency. The house netted an amount of $338,878. The significance of it was that BTC was eventually used in place of real world currency. While it was big, the problem was still because of BTC's fluctuations and the rate of money involved.
Manuel Perez of the real estate team involved in the project listing commented on the situation, saying that such a value was set in dollars. The value of bitcoins, meanwhile, were determined during the time of closing, and the buyer was offered a safeguard for any fluctuations. Fortunately, fluctuations turned out to be minimal at the time of the payment.
However, the light appears to be at the end of the tunnel for blockchain and bitcoin. According to U Today, the current trend is suggesting that there will be a bull run of sorts near the end of the year. The current value of BTC seems to be confirming that, as bitcoin rates are holding just above the $5,200 mark.
The hourly graph this month also looks positive as momentum is holding higher than the suggested mark. It has stayed there over the past day, even as BTC values have been taking hits, dipping beyond that mark. Currently, the cryptocurrency is on target to reach $5,8885. It will be seen making a successful comeback should it remain above the $5,350 barrier.
The chart shows that Bitcoin managed to stay on the upper part of a low rate and it had been that way since April 4. This meant that values in BTC have managed to be above the 100-period and 200-period MAs. The two indicators are slowly but surely inching towards values that indicate a bull cross for the cryptocurrency.
Those with BTC better hold on to it, as trends suggest a sudden resurgence reminiscent of 2017. It may not be as high or as significant as that sudden surge, but it could be substantial for people who are looking to use BTC for other purposes, such as to buy property or create investments with it.