The unprecedented cryptocurrecy Bitcoin has recorded its highest trading levels for the first time in a period of three years.
The digital currency’s stunning performance comes ahead of the anticipated approval by the financial regulator in the U.S.
Even after Bitcoin’s performance, many people especially those who aim at making real money casino gambling sites a fortune, are still apprehensive.
Industry players assert that the digital currency is at its fledgling stage thus investors should expect a more dwindling experience.
They argue that Bitcoin, as other digital currencies are complicated, volatile and risky when conducting transactions thus question the digital currency’s inherent value.
However, this is not the first time this cryptocurrency is trading at such heights. It should be remembered that in the month of November 2013, Bitcoin made it to a much higher side of $1, 163.
Since then, it has recorded steady rises, with only a few setbacks, that is common with any web business.
This year alone, the Bitcoin has risen by approximately 17%. This percentage does not include the 3% Bitcoin gained on Thursday when it traded at the highest of $1,160.
If things continue this way, financial analysts believe that the Bitcoin will even break the record it set in 2013. In fact, they argue that it is likely to trade even as high as $1,300.
The same financial analysts say that if the anticipated ETF approval is finally granted, that would make the digital currency very attractive to all investors internationally. This will mean that there will be no need to fear on the ‘implications’ of the Bitcoin, something cautious institutions have held for some time.
Before its performance on Thursday, 3 ETFs, which monitor how the Bitcoin performs, had filed an argument before the Commission of Securities and Exchange, which is awaiting approval.
The Commission has until March 11, 2017 to give a ruling on whether or not to grant approval on at least one approval application.
It should be remembered that Tyler Winklevoss and former UK Prime Minister Cameron filed the application four years ago.
The decision to approve the Bitcoin will go in the records at the debut bitcoin ETF to be issued and regulated in the U.S. by a local entity.
Charles Hayter, the CEO of Cryptocompare observes that soon, the web business will experience something that has never been there.
“If the Bitcoin is finally approved, there will be a dramatic change of how things are done. Powers and authorities will finally condone the bitcoin. That will definitely change how things are done online,” Hayter said.
In 2016, bitcoin went beyond 100% to reach at 125% and it has steadily improved since 2010, outperforming other digital currencies.