The price of Bitcoin has reached up to $ 3000 for the first time in three years. Bitcoin is one of the most popular cryptocurrencies of the world. Earlier this year in the May, Bitcoin surpassed $ 2000 and in June reached up to $ 3000.
This means that the sum of all Bitcoins issued in the US $ 56 billion, a market value equivalent to Tesla Motors. If we consider that the real in circulation is around 26 Billion United Arab Emirates Dirham.
In addition, Bitcoin recovered some of its dominance: it accounted for more than 80% of all crypto-coins for more than three years but was losing space for other options such as Ethereum and less than 40%. Now, Bitcoin’s dominance is at 47.4%.
Bitcoin has outperformed and surprised everyone as nobody had ever imagined that a digital currency would ever be so valuable. Presently Bitcoin is on the market for $ 3415 which is a record making figure.
This is the first time ever that the digital currency reached to $3000 mark after a sudden rise in recent weeks. The sudden increase in the value is attracting investors, although it is not yet a declared assault on political and legal issues regarding the acceptance of this currency in view of the effects it might have on Currencies.
Shakil Khan founder of the CoinDesk which is a site that specializes in news about digital currencies, then bought Digital Currency Group quotes Arthur Hayes, CEO and co-founder of BitMEX leveraged platform for digital currency, which believes that since Bitcoin has exceeded the mark of 3 thousand dollars, the rate of appreciation of the price will accelerate dramatically.
Moreover, the quotation is rising as SegWit gets closer to being activated on Bitcoin – technology increases the network’s ability to process currency, improves security, and in the future can allow for instant transactions as well. Still, Bitcoin is having to deal with a new currency, Bitcoin Cash, which emerged from a historical division and is already the fourth most valuable crypto.