Bitcoin closes in on pre-dip prices
Quebex Fintech Inc. Jun 06, 2017
Bitcoin’s bullishness is back with a vengeance following its correction a week and a half ago which saw prices fall by 20%.
The value of a coin surged 17.4% in the last week alone, topping $2,600 late on Sunday, and shows no sign of letting up.
The price of one bitcoin is at $3634.49 CAD as of 4pm, ET, Monday, according to CoinDesk, and looks set to top $2,700 USD any minute now which is sure to make web news headlines.
It seems likely bitcoin will reach more record highs this week given its rapid ascension over the past few days; to beat its previous record it would need to surpass $2,799 USD.
The latest rally seems to be a continuation of the surge which developed at the tail end of last week after China's three biggest bitcoin exchanges announced they were allowing withdrawals for the first time since February.
The news of the ban back in February caused bitcoin’s value to plummet 10% almost immediately following the announcement.
Other factors include India’s sudden interest in the coin, along with massive trading in Japan, South Korea and, of course, China.
Russia looks likely to follow Japan’s lead in accepting bitcoin as legal tender in the near future; Vladimir Putin recently expressed an explicit interest in Ethereum also.
Bitcoin is up 172% in 2017 and many analysts expect the value of a coin to reach $3,000 or even $6,000 USD before the year’s out.
The value of a coin surged 17.4% in the last week alone, topping $2,600 late on Sunday, and shows no sign of letting up.
The price of one bitcoin is at $3634.49 CAD as of 4pm, ET, Monday, according to CoinDesk, and looks set to top $2,700 USD any minute now which is sure to make web news headlines.
It seems likely bitcoin will reach more record highs this week given its rapid ascension over the past few days; to beat its previous record it would need to surpass $2,799 USD.
The latest rally seems to be a continuation of the surge which developed at the tail end of last week after China's three biggest bitcoin exchanges announced they were allowing withdrawals for the first time since February.
The news of the ban back in February caused bitcoin’s value to plummet 10% almost immediately following the announcement.
Other factors include India’s sudden interest in the coin, along with massive trading in Japan, South Korea and, of course, China.
Russia looks likely to follow Japan’s lead in accepting bitcoin as legal tender in the near future; Vladimir Putin recently expressed an explicit interest in Ethereum also.
Bitcoin is up 172% in 2017 and many analysts expect the value of a coin to reach $3,000 or even $6,000 USD before the year’s out.
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