Published On: Thu, Jan 5th, 2017

Bitcoin reached new record high

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BitcoinThe Bitcoin reached a new record high on Wednesday, becoming an increasingly attractive asset for investors. The digital currency appreciated, due to increasing interest in China and some other parts of the world, where legacy currencies are tightly controlled. In China the raising concerns about the yuan cause investors to gravitate to other assets in which to seek safe haven.

The crypto-currency already eight years, peaking at 1,140.64 USD, which is a level higher than reached in November 2013 price of 1,137 dollars.

In December, the Bitcoin also broke the record for total market capitalization, but now this growth continue and the total value of Bitcoins now exceeds 16.1 billion USD.

The last jump was due to equity or currency restrictions in other countries, such as India and Venezuela, where people buy Bitcoin to keep their savings. The authorities in both countries withdrew the largest banknotes in circulation in order to reduce corruption and smuggling currency.

However, as more customer rely on Bitcoin for their savings, gives a proof that more and more people are confident in the currency. They see the benefits of Bitcoin and other crypto-currencies. This will inevitably accelerate the growth of the whole economy.


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