It’s that time of the year again – time when Bitcoin has reached its high price. Even though this happened hundreds of times this year, this is the highest that Bitcoin has ever been so far. What is surprising that after weeks of being traded between the $5k and $6k gap, Bitcoin got to $6300 in just a day.
How Bitcoin’s Highest Price Happened, Growing 550% This Year Alone
Bitcoin, the world’s most famous cryptocurrency, arrived to a new record. In only a couple of hours, it crossed the last registered one of $6200 and climbed up to $6300. Even though it touched the bottom of $3000 when China decided to ban ICOs and cryptocurrency exchanges in September this year, Bitcoin once again proved that it is really worth the shot in the long run.
With only some days passing since the last Bitcoin hard fork, the new currency split from Bitcoin named Bitcoin Gold proved that the currency is not only splitting – but also growing. Therefore, what automatically happened is that individuals with Bitcoins at the moment of the fork would have the same amount of Bitcoins in the new blockchain.
What’s important to note at this point is that since the beginning of the year, Bitcoin grew an incredible 550% and proved everyone that it is growing. From experts to celebrities, more and more people have been investing in the network.
What’s Happening In The Market Now?
Currently, we can see Bitcoin Cash also experiencing an increase in its price – with a surprising 14% that took the price of the cryptocurrency to $469 last week. Today, Bitcoin Cash is $447 which is a price that is still stable and growing compared to the past few months.
Bitcoin’s current price is $6177, and there are no major ups and downs or significant movements in the cryptocurrency market these two days. What’s certain is that even though one of the most powerful countries in the world, China, decided to ban Bitcoin and other ICOS – the response of the virtual currency came out of nowhere, reaching a new total high.
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