Africoin AFC pre-launched few months ago with an opening price of $0.001 and today it is exchanging at $0.07. Bitcoin exchanged for $0.01 in February 2010 and today its is exchanging for over $900 converting a $100 investment in 2010 to more than $1,000,000.
To understand why investors, wealth seekers and speculators have been excited to be part of the Africoin dream; lets take a look at a similar project Bitcoin; how it started and where the price is today:
See history of price movement for Bitcoin:
|Date||Price for 1 BTC||Notes|
|Jan 2009 – Jan 2010||basically none||No exchanges or market, users were mainly cryptography fans who were sending bitcoins for low or no value.|
|Feb 2010 – May 2010||less than $0.01||On 22 May 2010, user "laszlo" made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. User "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found.|
|July 2010||$0.08||In five days, the price grew 1000%, rising from $0.008 to $0.08 for 1 bitcoin.|
|Feb 2011 – April 2011||$1||bitcoin takes parity with US dollar.|
|8 July 2011||$31||top of first "bubble", followed by the first price drop|
|Dec 2011||$2||minimum after few months|
|Dec 2012||$13||slowly rising for a year|
|April 11, 2013||$266||top of a price rally, during which the value was growing by 5-10% daily.|
|May 2013||$130||basically stable, again slowly rising.|
|June 2013||$100||in June slowly dropping to $70, but rising in July to $110|
|Nov 2013||$350 – $1250||from October $150–$200 in November, rising to $400, then $600, eventually reaching $900 on 11/19/2013 and breaking $1000 threshold on 27 November 2013.|
|Dec 2013||$600 – $1000||Price crashed to $600, rebounded to $1,000, crashed again to the $500 range. Stabilized to the ~$650–$800 range.|
|Jan 2014||$750 – $1000||Price spiked to $1000 briefly, then settled in the $800–$900 range for the rest of the month.|
|Feb 2014||$550 – $750||Price fell following the shutdown of Mt. Gox before recovering to the $600–$700 range.|
|Mar 2014||$450 – $700||Price continued to fall due to a false report regarding bitcoin ban in China and uncertainty over whether the Chinese government would seek to prohibit banks from working with digital currency exchanges.|
|Apr 2014||$340 – $530||The lowest price since the 2012–2013 Cypriot financial crisis had been reached at 3:25 AM on April 11|
|May 2014||$440 – $630||The downtrend first slow down and then reverse, increasing over 30% in the last days of May.|
|Mar 2015||$200 – $300||Price fell through to early 2015.|
|Early Nov 2015||$395 – $504||Large spike in value from 225-250 at the start of October to the 2015 record high of $504|
|May - June 2016||$450 - $750||Large spike in value starting from $450 and reaching a maximum of $750.|
1. Small total circulated coins - 20,000,000+ coins
2. Easy convertibility from digital currency to fiat money.
3. Very large merchants base for spending your AFC
4. Fast growing ecosystem - AFC community growing at over 1,000 members weekly.
The Africoin AFC was pre-launched at $0.001 per coin and it is expected to be listed at about a $1 per coin on major exchanges after the official launch.. Speculators and investors are already trading the currency for quick gains as the AFC community grows. At the moment the AFC has risen more than 10,000% within few months of pre-launch and this trend is expected to continue into mid 2017.
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