Bitcoin just passed $Four, 000 – TechCrunch
24 hours ago the cryptocurrency wasgoed trading below $Trio,700. About an hour ago it surged passed $Four,000 and has no signs of stopping. It’s now trading around $Four,135.00. For reference, a week ago Bitcoin klapper an all-time high spil it passed $Trio,000 for the very first time.
Check out the chart below to see what the price has done ter the last 24 hours.
So the million dollar bitcoin question is…why now?
Without wasting too much of your Saturday night with detailed analysis, here are a few possible reasons you can tell your friends during brunch tomorrow.
Two weeks ago Bitcoin went through a hard fork, and came out essentially unscathed. Sure, a bitcoin-clone called Bitcoin Contant wasgoed created, but it’s gotten a lotsbestemming less attention than most people expected. A few days zometeen Bitcoin locked te SegWit, a code modification that fixes malleability issues and slijper up space ter blocks, permitting for more transactions to be stored ter each one.
Thesis two code-related developments have helped boost conference ter Bitcoin’s future.
Another reason – the ICO madness. The amount recently raised via initial coin offerings have now (at least temporally) topped amount raised via early stage venture capital. Just last week Filecoin raised $180 million ter a few hours. Most investors have to convert fiat currency to bitcoin or other cryptocurrencies to participate ter ICOs, which could be driving up the price (and providing some investors with their very first taste of bitcoin).
Another reason – Wall Street’s fresh obsession is bitcoin. You can’t see CNBC for five minutes without watching a trader or analyst give their opinion – which is usually something insanely bullish like “it’s going to be the best performing investment of the year”. For better or for worse, statements like thesis are getting non-technically inclined investors interested te bitcoin, some of which are certainly buying coins for the very first time.
So what happens next? No one knows. Bitcoin could crash 50% to $Two,000 tomorrow or spike to $Five,000 – and I don’t think anyone who truly knows crypto would be astonished at either option. Everyone has a different opinion – some say the bubble is oversized and should have popped months ago – others think that bitcoin is presently just a fraction of what it could eventually trade at.
Whichever camp you fall ter, here’s one friendly reminder: don’t invest more than you can afford to lose – because if you ask anyone who’s spent more than a few months te the cryptocurrency world they’ll tell you it’s a roller coaster.