Over the weekend, Bitcoin reached two psychological thresholds. On Saturday, November 25th, the world’s first and largest cryptocurrency gained $280 per 1BTC at a time and reached 8700 USD/BTC. On Sunday, November 26th, Bitcoin gained $400 per 1BTC at a time broke 9000 USD/BTC, thereby setting another all-time high, even though the exchange rate retraced back shortly after the record.
It seems like Bitcoin is not going to settle down. This morning, the most popular digital currency has set a new all-time high - 9643,89 USD/BTC. It’s interesting to note that the new record pushed the BTC market capitalization up to $161 billion. At the same time, the total market cap of the entire cryptocurrency market is now well over $284 billion, NordFX reports.
In case you didn't know, Bitcoin broke the 8000 USD/BTC threshold on November 17th. By that time, Bitcoin had already gone up in value by more than 700% – from 950 all the way up to 8000 USD/BTC since early 2017.
According to the survey conducted by LendEDU among Bitcoin investors, they expect the digital currency to skyrocket to $196000 per 1BTC over the next few years. Well, their hopes are backed by the current dynamics. It took Bitcoin 1789 days to reach 1000 USD/BTC. After reaching 5000 USD/BTC, the dynamics accelerated dramatically. Over the last few months, the digital currency has been gaining another $1000 every couple of weeks. To gain another thousand dollars, Bitcoin spent just 9 days!
Experts say that the international community of Bitcoin investors have been resuming their interest in Bitcoin since there are hopes that the Segwit2x hard-forking will eventually take place in the near future. For those of you who don’t know, the event was scheduled for the end of November but then suspended, which make Bitcoin crash down to 5600 USD/BTC since investors had switched to other digital currencies. Later on, the community started spreading the rumor that Segwit2x is not dead. Couple with the news, about CME Group’s plans to launch BTC futures, all of that pushed Bitcoin higher to set new all-time highs.
