'Good News for Bitcoin Investors' Bitcoin's Price Crosses $3000 for the First Time
Good News for Bitcoin Investors!The price of Bitcoin has crossed $3,000 for the first time ever, while Ethereum is neatly above $300, taking the overall market capitalization to around $114 billion.
Just a week ago, the overall cryptocurrency market cap touched $100 billion with Bitcoin hovering just below $3,000 and Ethereum around the $250 level.
“While traditional financial markets were closed over the weekend, bullish trading from cryptocurrency traders from all over the world has seen both Bitcoin and Ether breaking new highs. Bitcoin breached the $3000 mark on Sunday evening while Ether breached the $300 mark earlier on Saturday. Price has been driven by Chinese exchanges releasing their moratorium on self-imposed withdrawals on top of bullish trading from both Japan and Korea” said Bobby Ong, Co-founder, CoinGecko. He further added, “Many new investors are hearing about both Bitcoin and Ethereum, and there is a big FOMO (fear of missing out) going around for many of these new investors.”
The overall virtual currency space has seen robust inflows, high volumes and significantly increasing interest. The inflows are being spread across cryptocurrencies, not just Bitcoin. When the overall market capitalization touched $100 billion, Bitcoin accounted for 46%. Now with overall market capitalization swelling to $114 billion, the percentage accounted for by Bitcoin lowered to 42.3%. Overall, the rally in each cryptocurrency is having a positive effect on the rest.
The soaring virtual currency prices are generating a lot of interest among new investors as well. Sandeep Goenka, co-founder Zebpay, believes that while it's good to see a rising interest in virtual currencies, entering the markets without having sufficient knowledge can backfire. He said, “The price has been repeatedly touching all-time highs this year. However, I would like to strongly warn people who are looking at this as an investment. I am speaking from experience when I say users should not invest in anything they don't understand. Bitcoin is very volatile. If you want to invest, you need to build knowledge at a conceptual level and a long-term belief in it, or else you should stay away. At Zebpay, we believe in Bitcoin and its potential impact on society, whether the price is $3, $300 or $30,000.”
Saxo Bank had predicted Bitcoin will cross $2,000 during 2017. Now while that has already come true, Kay Van-Petersen, the analyst who made the prediction, believes that its price has the potential to cross $100,000 in 10 years. Source: Coindesk
Good News for Bitcoin Investors! Bitcoin's Price Crosses $3000 for the First Time. Breaking News, bitcoin, bitcoin earn, bitcoin news - New York, NY, USA
Just a week ago, the overall cryptocurrency market cap touched $100 billion with Bitcoin hovering just below $3,000 and Ethereum around the $250 level.
Good News for Bitcoin Investors! Bitcoin's Price Crosses $3000 for the First TimeThe price of Bitcoin has been gradually rising since the beginning of June after witnessing some correction towards the end of May. In the past 3-4 days, Bitcoin’s price was in the range of $2,800 to $2,900 levels.
“While traditional financial markets were closed over the weekend, bullish trading from cryptocurrency traders from all over the world has seen both Bitcoin and Ether breaking new highs. Bitcoin breached the $3000 mark on Sunday evening while Ether breached the $300 mark earlier on Saturday. Price has been driven by Chinese exchanges releasing their moratorium on self-imposed withdrawals on top of bullish trading from both Japan and Korea” said Bobby Ong, Co-founder, CoinGecko. He further added, “Many new investors are hearing about both Bitcoin and Ethereum, and there is a big FOMO (fear of missing out) going around for many of these new investors.”
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The overall virtual currency space has seen robust inflows, high volumes and significantly increasing interest. The inflows are being spread across cryptocurrencies, not just Bitcoin. When the overall market capitalization touched $100 billion, Bitcoin accounted for 46%. Now with overall market capitalization swelling to $114 billion, the percentage accounted for by Bitcoin lowered to 42.3%. Overall, the rally in each cryptocurrency is having a positive effect on the rest.
The soaring virtual currency prices are generating a lot of interest among new investors as well. Sandeep Goenka, co-founder Zebpay, believes that while it's good to see a rising interest in virtual currencies, entering the markets without having sufficient knowledge can backfire. He said, “The price has been repeatedly touching all-time highs this year. However, I would like to strongly warn people who are looking at this as an investment. I am speaking from experience when I say users should not invest in anything they don't understand. Bitcoin is very volatile. If you want to invest, you need to build knowledge at a conceptual level and a long-term belief in it, or else you should stay away. At Zebpay, we believe in Bitcoin and its potential impact on society, whether the price is $3, $300 or $30,000.”
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Good News for Bitcoin Investors! Bitcoin's Price Crosses $3000 for the First Time. Breaking News, bitcoin, bitcoin earn, bitcoin news - New York, NY, USA
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