The virtual currency has arrived at a new record high crossing the $8000 barrier. Just some weeks ago the cryptocurrency passed $7000 dollars surprising everyone in the community. The Cryptocurrency has spiked up to $8022 in Poloniex Exchange just some hours ago.
Bitcoin Keeps Growing Amid Uncertainty
If Bitcoin has proven something this year, was its resilience. Its ability to overcome difficult moments re-surging stronger than before. Just some time ago we were discussing whether Bitcoin was going to survive or not the Segwit2x hard fork.
Lately, the discussion was regarding the price reversal that arrived at almost a 30%. The hard fork was cancelled, or at least suspended, and the community didn’t know who to trust. At this time, Bitcoin Cash and Dash surged from the ashes, after not so good months.
Finally, we are here, the cryptocurrency is strong, more than never before. Its market capitalization arrives almost at 130 billion dollars, according to Coinmarketcap. The market share reaches an incredible 55% after a year in which hundreds of new tokens appeared. In addition to it, media covered Bitcoin more than during the past years.
Bitcoin price passed from $960 dollars at the beginning of the year to $8000, meaning an 83 percent price increase. That situation provoked several enterprises and businesses to adopt Bitcoin as a means of payment. Indeed, CoinStaker covered that new Debit Cards will be used with cryptocurrencies.
According to some experts, Bitcoin price can reach $100,000 dollars’ record in 2018. This is more than ten times the price we have nowadays. But considering the price increase this year, it is possible that the currency could reach this number the next year.
New investors, enterprises and hedge funds are starting to see that Bitcoin could be a great investment tool. Some governments are even accepting Bitcoin payments from their citizens for taxes payment. If the market penetration keeps growing, for sure its price will keep also flourishing.
Blockchain Keeps Also Growing
Alongside with Bitcoin, Blockchain technology keeps growing. The virtual currency pushed enterprises to investigate and develop solutions with Blockchain technology. Enterprises as JP Morgan Chase or Bank of America are starting to use this technology to improve their services. Users are asking for faster and cheaper ways of transacting and Blockchain allows that to happen.
But Blockchain is not only used only for transactions. Other fields use this technology. Governmental agencies, educational institutions and the health care sphere, are adopting blockchain in order to be more efficient.
At the moment Bitcoin is being traded around $7700 dollars. The trading volume in the last 24 hours crossed 5 billion dollars and could keep growing in the next hours.
Do you think Bitcoin will keep growing or it has reached a limit?
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