In a recent surge, Bitcoin price rose higher and higher in a matter of couple days until it hit $8000 and then even went beyond $8000. Today, Tuesday, May 14, 2019, Coindesk reported the price of Bitcoin to be $8195.
According to statistics by Messari, during the last 24 hours, more than $27 billion in Bitcoin was traded via various exchanges throughout the world, $1.2 billion of which happened in mere ten exchanges.
The Messari data also reveal that this popular cryptocurrency has increased in value more than 127 percent in the past 90 days. However, this recent increase in price is not only happening for Bitcoin. The value of most cryptocurrencies has also increased as a result of the surge in the Bitcoin price.
According to Coinmarketcap, Bitcoin’s share of the cryptocurrency market, after the recent surge in its price, has gotten to 60 percent, which is its highest since 2017. This is a sign that the growth of Bitcoin is outpacing other markets.
The last bear market happened near the end of 2015 when the price of Bitcoin surged suddenly. In early 2015, the price of Bitcoin fell to $198 and then near the end rose to $499, an approximate 150 percent increase. It seems that history is repeating itself!