Investing

Bitcoin exceeds $5,000 worth 9x what it was a year ago

By  | 

The interest and popularity of bitcoin, the world’s best known crypto currency, is still unstoppable, and is demonstrated by the new record of valuation that it reached yesterday: $ 5,000. At this time in fact exceeds $5,500 according to Coinmarketcap, when a year ago its valuation was only $640 per bitcoin.

This is the first time it has overcome this barrier so solidly (it did it for a few minutes in September), and that valuation makes it easier for other crypto currencies also growing in a sensible way, with Ethereum and its ether also gaining ground, although not as remarkably.

The roller coaster returns

Only two months ago, we talked about how bitcoin had surpassed $3,000, and after a period of continuous rises, both Bitcoin and other crypto currencies went through some difficult moments with the decision of China to prohibit ICOs.

This led to notable declines in the valuation of Bitcoin and other crypto currencies, but its volatility has been demonstrated yet again with a new rise.

It is unclear what has once again triggered the value of bitcoin, although experts argue that it may be linked to the interest of certain institutions and banks to adopt it. Russian President Vladimir Putin spoke this week about the risks associated with crypto-currencies, but also stated that “no unnecessary barriers should be built” to these new technologies.

Segwit2X at a glance

This new record valuation comes with a new hard fork in sight: the so-called SegWit2X poses an even greater change than we saw a few months ago with the appearance of Bitcoin Cash, which shared a chain of blocks with the previous bitcoin.

With this hard fork, the proposal is even more relevant because there will be a war between the current bitcoin and the new crypto currency that will be generated from that division, and that will have a different block chain in addition to having a block size of 2 MBs. In the panorama is also the creation of Bitcoin Gold, another criypto currency different and resistant to the mining based on ASICs, but that could itself be mined with GPUs, like the ethereum ether.

All of these options once again add to the opaqueness and confusion for the immediate future for what remains the market crypto currencies. The forecasts for its future valuation remain totally uncertain. Uncertainty, as always, is absolute.

Leave a Reply

Your email address will not be published. Required fields are marked *