After weeks of being traded between $5000 and $600 dollars, we have arrived to a new Bitcoin record: $6300 Dollars.
Bitcoin Record: All The Way Up
The famous cryptocurrency has arrived to a new record. In the last hours, Bitcoin crossed the last registered record of $6200 dollars. Bitcoin is located in a bullish market since it touched the support level of $3000 dollars on September the 14th. This situation was produced due to China’s decision to ban ICOs and cryptocurrency exchanges. Since that moment, Bitcoin price does not stop to grow.
Just some days passed since the last Bitcoin hard fork. A new currency split from Bitcoin, named Bitcoin Gold. Lots of investors decided to place a bet for the most known cryptocurrency in order to profit from the split. Those individuals with Bitcoins at the moment of the fork would have the same amount of Bitcoins in the new blockchain.
This situation pushed Bitcoin price up while other cryptocurrencies lost some of their value. In some days, we will experience the SegWit2x fork. In this case, the situation will be the same. The owners of Bitcoin will experience a growth in their saves just because of being Bitcoin holders.
Since the beginning of the year, Bitcoin grew an incredible 550%. Interest in the virtual currency is growing. Institutional investors and famous figures, like Mike Novogratz, are investing an important part of their saves in Bitcoin. At the same time, news outlets are starting to pay more attention to cryptocurrencies, leading to more investments on it.
Some countries are starting to invest in national cryptocurrencies in order to compete with the decentralized cryptocurrencies on the market.
What Is Going on Now In The Market?
Bitcoin Cash had also experienced an increase on its price. A surprising 14% took the price of this cryptocurrency to $469 dollars. In this way Bitcoin Cash surpasses Ripple as the third cryptocurrency by Market Capitalization. Today. Bitcoin Cash arrived at $525 dollars. A price that it didn’t touched since the second week of September.
In this way, Bitcoin Cash crosses a resistance level located around $350 dollars. This price also modifies the down trend in which Bitcoin Cash was since two weeks after it started to be traded.
BitcConnet, Monero and Litecoin were other currencies that grew more than 4% during the day. BitConnect grew 7,12%, Monero 4,17% and Litecoin 4,05%. In this way, they do recover some of the price lost during the last weeks.
Bitcoin keeps surprising even after one of the most powerful countries, China, decided to ban ICOs and close exchanges.