Bitcoin is really performing well recently!
Mid May 2017, Bitcoin was holding a steady (ish) price of £1500, which at the time was the highest it had ever been.
Before the August 1st deadline for the Bitcoin Improvement Proposals, the price hit a plateau amid concerns a hard fork would result in the price plummeting.
Now though, just 12 days after the hard fork and the introduction of Bitcoin Cash, Bitcoin has been climbing higher and higher until today it hit £3000 ($3879 USD)! It’s up 100% in the last 3 months. Will it keep going up?
The community has been speculating since the beginning of the year, questioning whether it would hit £3000 by the end of the year! With 4 months left to go, it’s already broken the £3k mark and the price at the end of the year is open for debate. If in another 3 months the price increases by 100% again, we would be buying our Bitcoin at £6000 each.
Bitcoin’s market cap in USD is now almost $60 Billion, meaning the total Bitcoin in circulation is worth more than some of the worlds largest brands! Zurich insurance group, Nissan motors, Lloyd’s banking group, and with a market cap of $90 Billion, Bitcoin may soon be worth more than the investing giant Goldman Sachs!
Why has Bitcoin been climbing recently?
Bitcoin will always have a place in the world of cryptocurrencies due to the fact it’s the most widely used currency when it comes to purchasing other altcoins.
Google searches for ‘Bitcoin’ over the past 6 months have pretty much doubled too meaning interest is increasing!
Media coverage and corporate interest is constantly on the up meaning more and more people every day are becoming aware of it’s potential, many taking the concept and attempting to develop their own alternative.
The next few months will be exciting for sure! Where to from here? Continue going up or are we in for a drop? What do you think, let us know in the comment section.
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