Just when we thought that Bitcoin couldn’t go higher than on Thanksgiving weekend, it surprises everyone by breaking that record on Monday. It seems that the virtual currency is slowly moving towards the mainstream. The Bitcoin price today is somewhat $9,682.10
What’s the Bitcoin Price today?
According to CoinDesk, the cryptocurrency’s price on Sunday had reached around $9,400. The price later increased to $9,603.56, rising upto 3 percent that day. The rise in the price could mean that investors find it more convenient for the currency to develop. And finally it has come upto $9682.10 on Monday.
The Adapters
Square company has started selling bitcoin to ordinary customers. Square is a payment company run by the co-founder of Twitter, Jack Dorsey. Apart from them, the Chicago Mercantile Exchange might also allow banks to trade on the Bitcoin’s value. It is noted that Bitcoin has gone higher than 40% in the past two weeks. In order to look for the place that determines the Bitcoin price, one needs to visit unregulated exchanges that defy European and U.S. laws.
It seems that the virtual currency is slowly moving towards the mainstream.
The policymaker of European Central Bank told Reuters that “The problem with bitcoin is that it could easily blow up and central banks could then be accused of not doing anything.” He further added, “So we’re trying to understand whether bank activity in relation to cryptocurrency trading needs to be better regulated.”
Cryptocurrency are not centralized and therefore cannot pass through physical banks and systems for traditional payments. They tend to make use of an online ledger of transactions, blockchain, which is maintained by anonymous networks of computers on the net.
Coinbase
According to CNBC, Coinbase is the largest bitcoin exchange in the United States. It was able to add 100,000 accounts just between Wednesday and Friday. Coinbase had upto 4.9 million users last November. These digits are obtained by Alistair Milne who had compiled the public data from their website as well as the historical records.
The Big Talk
Some also feel that the bitcoins act more as a collectible than like a currency. The NBA team owner and a businessman, Mark Cuban told Business Insider that their value will rise until it “continues to function more as a collectible than an actual currency.
A note prepared by the analysts of IG Group, trading platform operator, stated that, ““Bitcoin has seen another frenzy of buying as the fear of missing out trade bites even harder.” They added that, “There are others who see downside risks from the introduction of bitcoin futures.”
Nowadays, Bitfinex has the biggest exchange. But there is no information about the people who handle the company on their website. With the bitcoin price today, it seems likely that it could soon surpass the 5-digit mark before the year ends. The reason behind the flooding of so many accounts could be due to the Thanksgiving holiday season.
