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Stats: 78 members, 1,402 topics. Date: March 18, 2018, 8:27 pm
According to news reaching us, it has been discovered that Bitcoin Price Jumps Above $3000 for the first time.
Bitcoin hit another record last weekend and exceeded $ 3,000. As I write this paragraph, the quote is at $ 3,415, according to the CoinMarketCap, up 5.6% in 24 hours. The news comes less than three months after Bitcoin reaches the whopping price of $ 2,000 for the first time.
This means that the sum of all bitcoins issued is the US $ 56 billion (approximately Rs. 5600 crores in Indian currency), a market value equivalent to Tesla Motors. It is a very relevant value if we consider that the real in circulation is around Rs.456 billion.
In addition, Bitcoin regained some of its dominance: it accounted for more than 80% of all crypto-coins for more than three years but was losing space for other options such as Ethereum and less than 40%. Now, Bitcoin’s dominance is at 47.4%.
For the first time, the digital currency has managed to surpass the $3000 mark after a sudden rise in recent weeks. In addition to its value, its “credit” also becomes significant, attracting investors’ attention more and more, although it is not yet a declared assault on political and legal issues regarding the acceptance of this currency in view of the effects it might have on Currencies.
The CoinDesk, which is a site specializing in news about digital currencies – founded by Shakil Khan and then bought by Digital Currency Group – quotes Arthur Hayes, CEO and co-founder of BitMEX leveraged platform for digital currency, which believes that since Bitcoin has exceeded the mark of 3 thousand dollars, the rate of appreciation of the price will accelerate dramatically.
Moreover, the quotation is rising as SegWit gets closer to being activated on Bitcoin – technology increases the network’s ability to process currency, improves security, and in the future can allow for instant transactions as well.
Still, Bitcoin is having to deal with a new currency, Bitcoin Cash, which emerged from a historical division and is already the fourth most valuable crypto.
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