There is no doubt that the price of Bitcoin will rise even further from what it currently is to hit above $4,000 according to online money investors.
Over the past one week alone, the price of Bitcoin has steadily grown from below $1, 200 to above $1, 900. In the evening of Friday, February 19, 2017, the price of Bitcoin was at $1, 955.
However, according to CoinDesk, that was not what the Bitcoin traded at throughout the day. At the peak of the day, the price of Bitcoin hit $2, 000!
In the evening about 6:45 UTC to be precise, the price of the Bitcoin fell by about $50 from $1, 955.92. This decrease is only $4.45 to attain a new record of $2, 000, to as little as $1, 911.79.
CoinDesk says that the fall is equivalent to a 3% fall in that day alone.
However, there is also need for online digital money investors to remain steadfast and optimistic with the price gain of the Bitcoin. During that day alone, the price of the Bitcoin fluctuated a lot. It finally rested at $1, 940.21, which according to CoinDesk was a gain of about 2.8% from the 3%, which was the initial loss after it fell from $1, 955.92 to $1, 911.79.
Over the past many months, the price value of the Bitcoin has steadily grown giving much hope to all online digital money investors who for one reason or another had lost confidence in the bitcoin price gain.
We artubute this performance to many things that have to do with Bitcoin about the underlying technology associated to the blockchain.
Besides, many countries and companies are now accepting the use of bitcoin as a means of the mainstream mode of payment.
Japan is an excellent example in this regard. Online digital currency investors in Japan are now using the Yen in purchasing the Bitcoin. That is a bold move that will have a very positive impact on the price performance of the bitcoin.
Additionally, positive comments from opinion makers have also reinforced the price growth of the Bitcoin in recent days.
We saw the price fluctuation late yesterday. The total market capitalization and the entire ecosystem rose to a whopping $67.5 billion. This number is likely to increase even more as we approach the weekend when many people spend even more of the cryptocurrency in placing bets online.
Not all people are as optimistic as many of line money investors who believe that with the rise in the price of the Bitcoin, total market capitalization is also likely to sour.
One particular financial analyst who is also a renowned entrepreneur and online investor Vinny Lingham says that he is foreseeing a fall in the price of the bitcoin in coming days.
However, the digital currency’s network at the moment confirms otherwise.
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