New all-time high: Bitcoin reaching $13000 price level

Bitcoin price analysis

New all-time high: Bitcoin reaching $13000 price level

In the latest bang, Bitcoin, the most famous cryptocurrency as of now, breached an all-new high on Wednesday by crossing the United States dollars 12,000 mark for the first time ever. "One of them is a Lehman or Enron-style fraud event, not necessarily in the Bitcoin market, but in some other cryptocurrency market, which brings to mind the wild west mentality of mid 19th-century capitalism". According to CoinMarketCap, bitcoin's price rose 9.63 percent in 24 hours and double that, 18.74 percent in the last 7 days. The truth is, cryptocurrencies can be used for a whole lot more than making payments, and with the blockchain technology behind then, the whole way in which we go about our daily lives could be changing.

At this point, it's worth it just to hang on your Bitcoins, given the extraordinary run that it's been on.

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In yet another new record, bitcoin's market cap has now leapt to $219.6 billion. A recent buying frenzy in the Asian nation saw speculators stocking up on the digital currency ahead of the launch of Bitcoin futures in the United States.

You are able to track back through the many users of a Bitcoin, which can prove to be very useful. This latest price surge comes at a watershed moment in Bitcoin's history, as it is seeing a marked increase in both interest and acceptance, especially in the financial sector.

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The digital currency has also gotten a big lift this year from mom-and-pop investors in countries like South Korea and Japan who don't want to miss out on the prospect of further big gains.

Unlike physical money, the bitcoin is stored electronically, however that doesn't mean that it can't be lost. The combined value of all the bitcoins in circulation has already passed the annual output of some entire counties economies such as Portugal and Qatar. Volatility appears likely to continue for a while.

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As the buzz around the digital currency, particularly claims of its promising usage and speculation of another bubble, increased in the past few months, many bitcoin investors have come forward to advice new investors.

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