Bitcoin Price Jumps Above $1000

Having appreciated more than 100% in 2016, the value of digital currency Bitcoin increasingly looming in early trading in 2017. Data from trading on the exchange itBit New York showed that of $ 431.79 on January 1, 2016, Bitcoin continues to rise consistently to close at $ 963.36 at the closing Friday. However, the price jumped Monday 2:41% to $ 1,022, its highest level in three years. The rally was continued until Tuesday at the various exchanges Bitcoin world.

Throughout 2016, Bitcoin rally 125%, outperformed the currency-currency consolidated its existence by the official government recognition. Dollar value is only increased by 4% yearly, while the other major currencies depreciate instead. Although digital currencies have tended historically volatile, but in the last two years to rise in value relatively more stable and is increasingly seen as an alternative means of payment. Bitcoin increasing demand, especially from China, while the number of vendors that receive transactions in Cryptocurrency is also growing.

CoinDesk According to a poll conducted in mid-December, experts point to a number of factors as the basis for the strengthening of Bitcoin, such as market dynamics and global macroeconomic uncertainty. The same factors will continue to affect the predicted value of the Cryptocurrency forward, as well as technical elements.

"I think 2017 could be a continuation of 2016, in terms of (the year) was a growth year for the price of bitcoin. We obviously are in a bullish market for bitcoin today, and my experience tells me that the market is bullish bitcoin will not end before the level of the previous peak ($ 1.150 in December 2013) is exceeded, and that the new price will be several times higher than the previous high levels, "said Bobby Lee, CEO of BTC China, exchanges Bitcoin first in China and the second largest in the world," Within five and a half years since I follow bitcoin, I have seen this pattern repeated three times. "