Blockchain News

Cryptocurrency Bitcoin Reached a Record High of $11,700

Bitcoin

On Sunday, Bitcoin reached an all time high of $11,773.83 and the gain comes to 30.5% surge from Thursday when it was around $9,021.85, according to CNBC. It is quite interesting to note that Bitcoin reached as high as $11,000 on Wednesday and again plummeted $1000 in just about few hours over the high trading platforms. After a 20% fall last week, Bitcoin hit a record of $11,700.

Bitcoin has been garnering huge attention all over the world and it is looked upon as a digital currency with potential to grow further. There seems to be both hardcore supporters as well as oppositions against Bitcoin for several reasons.

On CNBC’s program ‘Fast Money’ Hedge fund legend Michael Novogratz predicted that Bitcoin would easily go up to $40,000 by the end of the year 2018. However, on CoinDesk’s consensus Invest Conference he said, “cryptocurrencies are going to be the biggest bubble of our lifetime.”

As per Cryptocompare, Japanese Yen Bitcoin trading accounted for 58% of the trading volume and the US Bitcoin trading accounted for 23%.

Apart from Bitcoin, other cryptocurrencies too have gained significantly in the market. Bitcoin Cash went up $1,606.06 which is 13% high on Sunday. Other digital currencies like Ethereum surged 3.5% at $480 as per CoinMarket Cap.

With Bitcoin riding so high, Cameron and Tyler Winklevoss are the digital currency billionaires as they held $11 million in Bitcoin when the value was around $120 per coin on April 2013.

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