Bitcoin Soars Through The 2000$ Mark

The worth of 1 Bitcoin is more than 2000$ – a very important psychological price mark.

The price has grown about 5% in the last 24 hours! Daily exchange volume of about $200 million in the USD/BTC market in the last 24 hours.

Reasons for the continued rally of Bitcoin:

  • the drop in traditional markets
  • the new Japanese law(that recognizes BTC as a payment system. The Japanese people embrace Bitcoin and use it a lot already.
  • the Australian law – Bitcoin will be treated just as money starting July,1st,2017
  • Rising demand in China
  • Falling stocks
  • Heavy trading in Japan, China, and South Korea
  • Political scandals in the U.S and Brazil cause investors to seek safer assets.
  • Cryptocurrency Conference in New York City
  • Bitcoin hard fork: as transaction times of BTC took very long a so-called hard fork was debated, dividing Bitcoin into 2 cryptocurrencies. Litecoin`s alternative scaling solution will probably also be used for Bitcoin and no hard fork will be required.

Experts predict Bitcoin to rise to as high as 3000 $ per Coin by the end of this year.

Posted by Crytpocurrency