For the first time within the last 15 months, the price of Bitcoin went over $10,000. Currently the price of Bitcoin is around $10,700. This amount is the highest price of Bitcoin since the March of 2018. In the past 24 hours, the price of Bitcoin has increased as much as 10 percent.
The price rise led to an increase in the volume of trades by 12 percent. According to a report by CoinMarketCap, in the past 24 hours, $21 billion worth of Bitcoins has been traded.
Experts think that Bitcoin will continue its rise until 2020. In 2020 the mining reward of Bitcoin will be halved. The mining reward of Bitcoin is halved every four years.
Some analysts also think that the increase in the price of Bitcoin is due to Facebook launching its cryptocurrency Libra.
The price of Bitcoin has increased 140 percent in the last two and a half months. 140 percent in two and a half months seems really amazing for a bull market. But some experts believe that since this bull market is going really fast, it may come to a halt in short term.
Tuesday, June 25, 2019 10:35:00 AM