To say that no one really expected Bitcoin Price to shoot this high, that would be an outright lie.
Bitcoin price has broken all previous price records – breaking the $3000 barrier; it is currently hovering around the $3200 mark.
Earlier this month, Bitcoin went through a split, producing another coin namely Bitcoin Cash. The community was split on what the future of bitcoin is going to be now. The current price update however, has quelled some of those fears on which (Bit)coin is the community going to support going forward. To put this into perspective, Bitcoin Cash is priced at $250.
With a 300% gain in Bitcoin’s price, it is currently topping the gain charts when compared to the rest of the market performers, be it stocks or gold.
After the split on August 1, Bitcoin underwent a price reduction of 5%, while Bitcoin Cash rose in price to a high of $500+. But the early fears have been quelled, with the community showing massive support to Bitcoin pushing its price to where it is currently.
In other news, Japan overtook China and USA, to become the largest Bitcoin Exchange Market in the world.
— Joseph Young (@iamjosephyoung) August 7, 2017
In case you are wondering about the percentage gain for Bitcoin alone in 2017, an insightful user posted this screenshot on bitcoin’s reddit.
With a 300% gain in Bitcoin’s price, it is currently topping the gain charts when compared to the rest of the market performers, be it stocks or gold. The second highest best performing stock of Tesla, currently rests at 76%. You can do the math.
If you want to get into Bitcoin, you can look at Coinbase where you can buy your bitcoin safely. Coinbase also provides a trading service where you could trade Bitcoin against Fiat currency, buying at a lower price and selling at a higher price if you wish to do that. Please, do keep in mind the very simple Bitcoin logic: If you don’t own the keys, you don’t own the coin. Keeping your coins on an exchange is always risky because you don’t control your keys on an exchange. The recent BTC-e take down should help you understand why. Look at the web wallets available for you to store your coin. To have even more security, you could also look at the hardware wallets such as Trezor.
In my experience though, you don’t need anything more than an online Bitcoin wallet, unless you let other people access your computer.
Bitcoin is headed for the moon, experts believe that the Bitcoin price can reach more than $10,000. If you want to get on the hype train, now is probably a good time to invest.