Now you can purchase and promote bitcoin for over $8,000 on all exchanges, and even for over $8,150 on a few of the hottest ones. $8,000 is a vital milestone for bitcoin after some sophisticated weeks.
If you examine the value of bitcoin in the present day with what it was once again in December of final yr, it’s fairly disappointing. From December 1st till January thirty first, one bitcoin was value over $10,000. At one level, a single bitcoin was value almost $20,000.
It’s been much more boring since then. After reaching all-time low on February sixth at $6,465 per bitcoin, the cryptocurrency bounced again to over $10,000 however by no means actually recovered fully. It’s been a sluggish and regular downhill slope since then.
The excellent news is that bitcoin has carried out slightly bit higher for a few weeks. Immediately’s efficiency represents a two-month excessive, with bitcoin reaching costs we haven’t seen since Could twenty second.
To place this into perspective, bitcoin is again to its worth of November twenty second 2017. In different phrases, everyone who purchased bitcoins earlier than November 2017 remains to be within the black. In response to CoinMarketCap, folks have traded the equal of $6.5 billion over the previous 24 hours.
Disclosure: I personal small quantities of varied cryptocurrencies.