Bitcoin is Just $100 Away From Doubling its Price in 2017

Pinterest

The price of bitcoin has hit a new high on the CoinDesk Bitcoin Price Index (BPI), reaching an $1,902 average across global exchanges.

While one in a string of new all-time highs the digital currency has so far set in 2017, this one is perhaps notable as it means the price is now within striking distance of $2,000, a figure that would effectively find the asset doubling in value in 2017.

Bitcoin traded for just over $1,000 on 1st January, but has edged up sharply amid increasing media exposure for its technology and those in the wider blockchain tech sector. Indeed, on at least two exchanges – Poloniex and Bitfinex – the price was even hovering just over $1,960.

Year-over-year, the price of bitcoin is up 300%, having risen to $1,900, up from $453 on 18th May, 2016. At press time, bitcoin’s market capitalization (the value of all bitcoins in existence) was $31bn.

Still, the move comes amid a broader boost in the cryptocurrency market, which broke the $60bn barrier today.

The increase has taken place amid strong surges from Ripple’s XRP, which seeks to lower costs in enterprise cross-border payments, and ethereum’s ether token, a cryptographic asset that powers its decentralized app network.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Big and little screws image via Shutterstock

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Comments

comments

Filed in: Bitcoin Buzz Tags: ,

You might like:

Bitspark Embarks on Blockchain Remittance Trial with UN in Tajikistan Bitspark Embarks on Blockchain Remittance Trial with UN in Tajikistan
Financial Stability Board: Blockchain Could Raise Cross-Border Data Issues Financial Stability Board: Blockchain Could Raise Cross-Border Data Issues
ASIC on Blockchain: Australia's Securities Watchdog Unlikely to Regulate ICOs ASIC on Blockchain: Australia's Securities Watchdog Unlikely to Regulate ICOs
Blockchain Payments Startup Veem Integrates With Intuit QuickBooks Blockchain Payments Startup Veem Integrates With Intuit QuickBooks
Bitcoin and Ethereum fall amid profit taking Bitcoin and Ethereum fall amid profit taking
Bitcoin, Ether Lead Digital Currency Slide From Highs Bitcoin, Ether Lead Digital Currency Slide From Highs
Bitcoin Price Analysis: Bear Run Shows No Decrease in Momentum Bitcoin Price Analysis: Bear Run Shows No Decrease in Momentum
What Is Bitcoin's Elusive Intrinsic Value? What Is Bitcoin's Elusive Intrinsic Value?
© 2017 Virtual Mining Bitcoin News. All rights reserved. XHTML / CSS Valid.
Email
Print