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Why Has Bitcoin’s Price Gone Up So Fast?

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Why Has Bitcoin’s Price Gone Up So Fast?   $15,000 10,000 5,000 0 $16,437 2017 April July Oct The average cost of a Bitcoin crossed $16,000 on Thursday, though on some individual exchanges where it is traded, the value was even greater

    $15,000 10,000 5,000 0 $16,437 Jan March May July Sep Nov The average cost of a Bitcoin crossed $16,000 on Thursday, though on some individual exchanges where it is traded, the value was even greater 7, 2017 Note: Values as of 5:30 p

m Eastern Time on Dec | Source: Coindesk | By The New York Times SAN FRANCISCO — Bitcoin has been in a bull market like few the world has ever seen At the beginning of the year, the price of a Bitcoin was below $1,000

It hit $5,000 in October, then doubled by late November And on Thursday, less than two weeks later, the price of a single Bitcoin rose above $20,000 on some exchanges, according to Coinmarketcap The latest price spike has been credited to signs that Wall Street companies plan on bringing their financial heft into the market At the current cost, the value of all Bitcoin in circulation is about $300 billion To get a sense of how big that is, all the shares of Goldman Sachs are worth about $90 billion

The gains have been driven by several other factors — perhaps the most important being the irrational mentality that can take over in speculative bubbles Advertisement Continue reading the main story But most people buying Bitcoin are doing so in the belief that others will want it even more in the future The gains, though, have many people, even Bitcoin believers, anticipating a big crash Currently, the average price of one Bitcoin is about $, according to Blockchain

info, a news and data site Bitcoin used to be all about libertarians and black-market trade Are those still driving the price? The fringe communities that drove Bitcoin in its early years are playing a much less important role in the current rally Continue reading the main story

About the Author Dancake

Hey hey hey. It’s Ville and welcome to my blog. I am a tech enthusiast and always looking for ways to generate new income streams. At the moment Bitcoin cloud mining is one of the most promising ones and that’s why I created this website. Hope you like your stay. If you want a quick start guide about making passive income with cloud mining check out this guide.