Bitcoin holds steady at over $2,800 USD

This week’s record-breaking surge seems to have eased off for the time being with bitcoin sitting comfortably at $2,823.50 USD ($3,801.98 CAD) as of 8pm, ET, Friday – up 1.44 % in 24 hours but down 0.88% in the last 72, according to data from Poloniex exchange.

Having started the week trading at around $2,450 USD per coin, bitcoin surged bullishly and by Wednesday it was briefly trading at an all-time high of over $2,900 before dipping marginally to its current value.

As things stand, it looks like it’s only a matter of time before bitcoin crosses that elusive $3,000 USD milestone, something even the most optimistic analysists thought wouldn’t happen until summer’s end at the soonest.



Despite this week’s lucrative ascent, or perhaps because of it, there’ve been doomsday predictions galore with the word ‘bubble’ being thrown around with increasing fervour from certain parties across the web.

However, the general consensus amongst sceptics is that the coin’s bullishness will continue for some time longer before experiencing a rather drastic correction.

Billionaire businessman Mark Cuban said, “I think it's in a bubble” before adding “I just don't know when or how much it corrects.”

Ethereum, bitcoin’s closest rival, has had a whirlwind week too; it’s currently trading at $281.10 USD ($378.52 CAD), according to Poloniex – up 8% in 24 hours, 11.5% in 7 days, and 101.5% in a month.

Ethereum is up roughly 2,800% in 2017 and bitcoin approx. 175%, respectively.