After reaching past $6000 for the first time a couple of weeks ago, Bitcoin rose to an all time high of $6306.58 on Sunday 20:30 UTC according to CoinDesk. The last all time high of $6138 was recorded on October 21st and was broken again just after 8 days.
This year has been the golden year in the history of Bitcoin in terms of its price appreciation. In the month of January 2017, the price was just below $1000 mark and now with the new high recorded the price has gone up more than 500% within the same year! This is truly an unbelievable appreciation for Bitcoin and brought a lot of enthusiasm amongst the bitcoin traders and lovers.
However after the new milestone was reached, the prices are now down somewhat and Bitcoin is currently trading near $6150 mark across different selected global exchanges.
Analysts attribute the current rise in prices to a group of business leaders and popular investors who have helped Bitcoin to be more visible in the eyes of the public currently. The popular billionaires and investors who have recently weighed in this most popular cryptocurrency are PayPal co-founder Peter Thiel, Saudi Prince Al-Waleed bin Talal and billionaire investor Warren Buffet.
Google Trends Data is showing statistics in favour of Bitcoin currently. The search keywords like “Bitcoin” and “Bitcoin Price” are showing a lot of popularity. This translates to an increase in the awareness for the cryptocurrency and also calls for investment in the protocol. According to CoinMarketCap, the new value surpasses the $100 billion mark.
Experts believe that bitcoin is gaining confidence from the public steadily and the world’s most popular cryptocurrency is really great for adoption. This year has seen a sharp rise in the Bitcoin prices and hope the trend continues in the next year too.