Bitcoin Price Violates $Four, 200, Total Market Cap is More Than $135 Billion – CoinSpeaker

Photo: btckeychain / Foter

Given the amazing growth rate bitcoin has been showcasing these days, the price of the digital currency will likely surpass a $Five,000 level in the near future.

Bitcoin has reached yet another milestone, surging past $4000 for the very first time in its history. The digital currency hit $4208.39 mark at 08:Nineteen UTC on Sunday, thus rising by more than 20% in a week.

Due to the price upturn, bitcoin market cap escalated to a record $66,Five billion, according to CoinMarketCap data. Meantime, the combined market cap reached $135,Five billion, just two days after exceeding its previous record of $127 billion.

At the time of writing, bitcoin is valued at $4073, while the overall market cap is estimated at $135,9 billion. Bitcoin’s market cap presently has a value of $67,Two billion.

Most financial analysts remain optimistic about the future of the digital currency. Its price has already surged higher than it was predicted by the head of technical strategy at Goldman Sachs, Sheba Jafari, who suggested that the digital currency would rise to about $Four,000 by the end of 2017.

According to forecasts by RT’s Keiser Report host and cryptocurrency enthusiast, Max Keiser, the price of bitcoin is likely to increase to $Five,000 this year, owing to the growing adoption of bitcoin worldwide, rising request from investors, and the upcoming SegWit activation. During the previous two months, Keiser continuously cited reasons that could drive bitcoin value to rise above $Four,000 and potentially to the $Five,000 level.

Likewise, Ronnie Moas, a stock research analyst and founder of Standpoint Research, believes that bitcoin will achieve $Five,000 within this year. Another experienced, John McAfee, predicts that the cryptocurrency value will climb above $500,000 within three years.

Overall, the current trend is likely to proceed in the next months. A growing bitcoin request from institutional investors, as well as the market confidence in its capability to scale will fuel bitcoin price to stir higher. Besides, the upcoming SegWit activation eliminated any uncertainty that the digital currency will be able to scale without any technical issues.

Like gold, bitcoin can serve as an alternative asset, especially in view of the world’s geopolitical tensions. The adoption of the digital currency is steadily growing as well. A few days ago, Fidelity launched fresh service to enable users track their holdings in virtual currency.

Meantime, Chris Burniske, an author of the upcoming book, “Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond,” stated that there is a strong correlation inbetween the value of the digital currency and the spectacle of the term ‘,bitcoin’ on Google Search.

As he noted on Twitter, the upturn in bitcoin value and Google searches have historically led to acute price decrease.

Four/ The Three peaks in @Google Search trends were accompanied by Trio of #bitcoin’s 6 price bubbles.

The analyst has warned that bitcoin price could suffer severe corrections soon.

6/ After every bubble there’s a crash

In those Trio periods #bitcoin’s drawdown:

June 2011 peak to trough: -93%

Share This article
You May Also Like

Coinbase Launches ‘,Instant’ Purchases of Bitcoin, Litecoin and Ethereum

Bitcoin Price Hits Another Record High Above $Five,800

Bitcoin Price Hits a Fresh Record High Above $Five,200

Entrepreneur Trace Mayer Predicts Bitcoin Price Will Reach $27,395 in February 2018

We welcome comments that advance the story directly or with relevant tangential information. We attempt to block comments that use offensive language, all capital letters or emerge to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report manhandle links. Views voiced in the comments do not represent those of Coinspeaker Ltd.

Closes on Oct Legal, 2017

Closes on Oct 20, 2017

Closes on Oct 21, 2017

Closes on Nov 15, 2017

Editor’s Choice

Gladius Permits Drastic Advancements in Cyber Security and Content Delivery Through the Blockchain

Ether’s Price Rises to $348 Despite ‘,Byzantium’ Hard Fork

Project Crypterium Wants to Build the Very first Truly Decentralised Crypto Bank

Entrepreneur Trace Mayer Predicts Bitcoin Price Will Reach $27,395 in February 2018

Decentralized eSports Platform EloPlay to Hold a Token Sale on October 16

Russia-based Startup BioCoin Closes Very first Round of Token Pre-Sale with $Two.5M Raised

Blockchain is Disrupting the Filmmaking Industry, Balancing Efforts and Prizes Effectively

Confideal Will Let You Lightly Create Brainy Contracts on the Ethereum Blockchain

REGA Risk Sharing Teams Up with ICOBox to Make Revolution in Decentralized Insurance Market

Confideal Makes the Complicated Process of Managing Wise Contracts Effortless and Safe

How the Internet of Things is Helping the Earth [Infographic]

58 Insane Facts About Bitcoins [Infographic]

History of Ethereum: How It’s Set to Overtake Bitcoin by 2018 [Infographic]

The Fantastic Flowering Field of FinTech [Infographic]

Could Bitcoin Become a Fresh Global Currency? [Infogrpahic]

Latest in Guides

What is Initial Coin Suggesting (ICO)?

The Theory of Bipolar Markets [White Paper]

A Beginner’s Guide to Crypto Two.0

A Beginner’s Guide to ‘,Internet of Things’

What Are Mobile Payments Two.0?

Go after Coinspeaker

Latest Press Releases

October 13th, 2017

October 12th, 2017

October 12th, 2017

October 11th, 2017

October 11th, 2017

  • Hot Searches
  • Bitcoin News |
  • Bitcoin Price |
  • BTC-e News |
  • Coinbase Token |
  • ICO C |
  • R3 CEV |
  • Stampery |
  • Xiaomi Pay

Bitcoin address to support the project: 1PAGUBe244jtSptjGuLABBtGMC8u81QrSo

Copyright ©, 2017 Coinspeaker Ltd. All rights reserved.

Reproduction in entire or in part in any form or medium without express written permission of Coinspeaker Ltd. is prohibited.

Related movie: Bitcoin hack wallet 1000% prooof real

Leave a Reply

Your email address will not be published. Required fields are marked *