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Bitcoin Makes Impressive Gains

Bitcoin Makes Impressive Gains

May 24 2017

The value of Bitcoin recently surpassed $2000.

The most famous cryptocurrency on the planet now has a per coin value of more than $2000. That is what several bitcoin exchanges are reporting, such as Kraken and Coinbase. This valuation indicates that the total bitcoin market cap (i.e. the total value of coins in use) is $32.92 billion.

This year, bitcoin has thrived - as this Coindesk chart reflects.

In 2013, bitcoin initially surpassed the $1000 valuation, however a range of variables - such as the problems experienced by Mount Gox (which was the leading exchange at the time) - meant that the currency dropped in value. Financial organizations tested blockchain and bitcoin based services during this period, and new Chinese regulations increased overall stability. This led to bitcoin returning to the $1000 mark by the end of 2016. Ever since, its' value has constantly grown throughout 2017.

In April, when we reported that ethereum and bitcoin had hit an all time high, you could purchase a bitcoin for $1343. At the time of writing, twenty-one days later, this value has increased by fifty percent. Bitcoin prices increased by twelve percent during the past seven days alone.

Nonetheless, bitcoin is not the only cryptocurrency experiencing an increase in value. Ripple, a centralized currency which is intended for use by major banks, has risen in value by 1000 percent in less than thirty days. Excluding bitcoin, this now makes it the highest value cryptocurrency in circulation today.

Some commentators think that bitcoin could be worth up to $10000 in the near future.

BOOM! Bitcoin Blasts To New All Time High!

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