Bitcoin Rings in the New Year, Spikes to $1022

Obviously, more and more people are getting hip to the benefits of Bitcoin, so it is soon expected to reach even more all-time highs and break the 2013 market record of $1,132, which is actually very close to the gold price per ounce that now reads more than $1,153.

The market is far more mature than it was in 2013, with no central exchange maintaining nearly all of the volume like Mt. Gox.

Exchanges like US-based Coinbase ($1,020.04), Europe’s Bitstamp ($1,020.60) and Zimbabwean based Bitcoinfundi ($1,050) are trading Bitcoin at over $1,000 as the cryptocurrency eases into its highest valuation in years. This is the highest level of the crypto-currency since December 2013. One of the most popular destinations for wealth has been bitcoin, and demand has a huge influence on price.

The Bitcoin price rose almost 130% in 2016, spurred on by political instability in several countries and the devaluation of the Chinese yuan, among other factors.

But Bitcoin has seen much wilder fluctuations than other, more traditional, currencies.

In fact, Business Insider found that in the first 24 hours of 2017, more than 5 million bitcoins were acquired in Chinese yuan compared to just 53,000 bitcoins bought in USA dollars. For the time being it doesn’t look like there’s any catalyst to knock the still-young currency lower, and perhaps its all-time will get a run for its money.

Bitcoin is being widely accepted as the safe haven in the times of economic upheaval.

Whatever the main driver may be and whatever the new price peak may be, we should keep in mind that the Danish investment bank specializing in online trading and investment Saxo Bank said in its Outrageous Predictions that Bitcoin’s price may reach $2100 or above.

Are you a Bitcoin user too? “I believe that all Bitcoin fundamentals are very strong”.

Falling far from purview of any authority, its role is to move money across the globe speedily and anonymously. This is odd and seems to defeat his own argument as the government of Uzbekistan won’t scrap its currency and no successful company will delist its shares just because they are “only” worth $17 billion. Such coverage led to increasing demand for bitcoin within the country and ultimately, extensive coverage from mainstream media.