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Bitcoin Reaches $14k

Dec 07, 2017 Posted /  24464 Views

Bitcoin Reaches $14k

It does not appear as if the bubble is going to burst any soon as the Bitcoin has set a new record by reaching the $14k mark. The currency which was standing at $12000 suddenly got a push and gained approximately $2000 in less than a daytime. Some speculators are not absolutely convinced with this gain, but most are confident that it is just the beginning of happy times for the investors. The reports by the Forbes suggest that Bitcoin is holding the major portion of all digital assets, which is according to the Forbes website accounts for about 60.5% of the total cryptocurrency market.

Bitcoin since its origin saw a Cinderella journey. It had its highs and lows, but it came strong all the time. And finally, we are witnessing the beginning of happily ever after. The year 2017 has been a very spectacular year for the currency, with value elevating to all-time highs.

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It began in January when the price for Bitcoin after much struggle soared to $1,000/BTC, and in October the price breached $4,500. The speculations started in that period suggested that the Bitcoin surge was imperative and unavoidable this year. Though a denomination on November 12 surprised everyone when the price was $5,850 after standing in the 7K value.

Nonetheless, the current value of bitcoin is not only astounding people, but it facilitated in building a very serious model for the future of cryptocurrency. As a result, even the doubters are now believers with a huge $160B (approximately) market seizure. Now the currency stands at a present-time high of $14k per token.

The currency utilization and credibility among the masses have enormously increased with the time. Bitcoin is now getting the much-needed stability which was lacking in its initial years. The Bitcoin website has laid down the statistics depicting that now the platforms see around 250, 000 to 375, 000 transactions in a single day. Moreover, the digital currency has been able to set reputation especially in those markets which very largely unexplored previously.

Even mining is now more lucrative than it was ever before. In the present time, the Simple Moving Average (SMA) apprehended as the short term has well exceeded the long-term trend indicator which represents that bulls may damage key resistance very easily. Furthermore, the currency’s price could see a righteous face value in the coming time, but it will be consumed by the fact that whether the buyers will sprint out of the inactivity.

As for now, bitcoin is steadily churning the pace with the head held high at above $14K. And, it seems only the initiation of a great reign.

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