BITCOIN Sets another new record! @ $9,500. BITCOIN leads to a new all-time high value of market cap of all cryptocurrencies
Bitcoin Price Crosses $9,000
Bitcoin is continuing to perform strongly after soaring to a new record high today's record price of $9,000 yesterday has continued speeding to make its way towards the mysterious mark of $10,000. As a result of a continued rise in the price, Bitcoin has crossed $9,500 mark for the first time. As per Coinmarketcap data, currently, this digital currency is trading at $9665.69.
Bitcoin Sets another new record! @ $9,500
Bitcoin continued to rise on November 29 and managed to cross $9000. Currently, it’s trading around $9665.69 on the Bitstamp exchange. The bitcoin market cap is now over $150 billion. Due to dominant status of bitcoin (having over 53 percent of the value of entire cryosphere), it also leads to a new all-time high value of market cap of all cryptocurrencies, according to CoinMarketCap the current total market cap of crypto is $285 billion out of which $151 billion is of bitcoin alone.
The sudden price can be attributed to many facts including interest from institutional investors, planned launch of trading of bitcoin futures, and the overall media popularization of bitcoin. CME Group, which announced the launch of bitcoin futures, is the world’s leading and most diverse derivatives marketplace.The winners are the holders, or as they call in the bitcoin community, Holders referred to people who hold their bitcoins and refuse to sell them.
A recent survey revealed that bitcoin would have to go to almost $200,000 before most people would consider selling their coins. Around 67 percent of the people who responded in the survey have never sold any of the coins. The growth has been phenomenal, and with more and more people just holding instead of trading would lead to much higher prices due to the scarcity of the tradable coins. However this might change when Wall Street enters and takes over the game, things might improve for better or worse.
One interesting aspect from an investor point of view is that the entire bitcoin ledger of people who are holding bitcoins before August 2017 is already worth almost $11,000 for each version of bitcoin they hold. The current price of Bitcoin Cash is $1599, Bitcoin is $9037, Bitcoin Gold is $342 = $10,978.
Analysts, investors, and gurus are confused, excited, or perhaps even uncertain about what next is for bitcoin. But enjoy the rally while it lasts!
Source
COMMENTS