Bitcoin's value reached $14,000. This accomplishment is unbelievable to some as the digital currency was valued at less than a $1,000 per token a year ago. Bitcoin has seen a meteoric rise in the past 12 months and is showing no signs of stopping. Just weeks ago, it surpassed the much awaited $10,000 mark.
The rise in the value can be due to a number of reasons. However, the driving force behind bitcoin’s growth is its demand with the general public. Due to its decentralized and secure nature, it is the preferred digital currency for most of the crypto industry.
Bitcoin has left its competitors in dust. However, Ether, the token of Ethereum network, is currently valued in the hundreds, while Ripple is valued even less. In comparison to bitcoin, these "competitor" tokens are valued at a fraction of bitcoin token's value.
With the most recent rise, bitcoin’s market capitalization rose to around $247 billion. Bitcoin is now more valuable than New Zealand, Greece, and a number of other countries. If Bitcoin was a country, it would in the top 100 countries based on their monetary value.
Mike Novogratz, a famous hedge fund manager, recently stated that Bitcoin can easily breach the $40,000 mark by the end of 2018. All of the bitcoins combined are valued at more than the value of JP Morgan, one of the biggest banking and financial organizations in existence.
Bitcoin shows no sign of stopping and will soon breach the $15,000 mark. It is currently valued at $14,741, as of 6:47am (GMT) on the 7th of December, 2017.
Bitcoin breaches $14,000!!!
Bitcoin's value reached $14,000. This accomplishment is unbelievable to some as the digital currency was valued at less than a $1,000 per token a year ago. Bitcoin has seen a meteoric rise in the past 12 months and is showing no signs of stopping.
Published on Dec 07, 2017 06:47 By Danish Yasin