Bitcoin Breaks $20,000

Bitcoin

The price of Bitcoin has hit new record highs above $20,000.

Source: CoinMarketCap

At press time, Bitcoin is trading at $18,894.40 – just below its record of $20,089 reached at 12:19:14 UTC. The Bitcoin-U.S. dollar (BTC/USD) exchange rate has decreased by -2.64 percent in 24 hours. Week-on-week, Bitcoin is up 13.99 percent, while on a monthly basis, it is up 145.42 percent.

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The world’s largest cryptocurrency by market value has just hit another record, breaking the $20,000 mark and outperforming almost everyone’s expectations for its 2017 price. On Dec 10th, CBOE started trading the first bitcoin futures As of today, the CME trades began. When the news broke about the futures, Bitcoin’s price climbed to exponential numbers.

Source: CoinMarketCap

For the year, Bitcoin is up a monumental 2283.12 percent and the cryptocurrency has been catapulted mainstream. Even the underlying blockchain technology is now being adopted by many different business sectors, more specifically the major financial institutions. These major banks are exploring ways in which it can be added to their current technology, to save them time and money.

As governments continue to scramble to implement policies to ‘regulate’ the digital currencies’, Bitcoin continues to grow. Many analysts and skeptics continue their “bubble” claims, but despite some minor falls the cryptocurrency has remained stable.

Featured Image: depositphotos/jamesstar

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