Bitcoin Records All-Time High $5,000 Value
People who invested in Bitcoin should be happy to know that it recently made history when the currency’s price rose over $5,000. This is the highest value Bitcoin ever had and it’s almost insane to believe that Bitcon was only a couple of hundred dollars not so long ago. Nonetheless, the CoinDesk Bitcoin Price Index was recorded to reach $5,013.91 at 02:25 UTC time zone. Bitcoin’s price remained at this level this for over 10 minutes. However, the price quickly dropped to $4,867.18 in only one hour.
Bitcoin Records Price Milestone
We think it’s safe to say that big Bitcoin investors who decided to withdraw some money during that 10-minute period are more than happy with the currency’s value fluctuation. In addition, numerous reports are claiming that this value spike is the result of Chinese bitcoin exchange OKCoin. Furthermore, hours after Bitcoin’s priced dropped to $4,867.18, it quickly went back up to $4,916.39. Worth mentioning is that this information comes as a courtesy of BPI.
What’s crazy about this huge price spike is that Bitcoin was worth $4,221,44 a couple of weeks ago. This shows us how volatile the cryptocurrency market can be. Moreover, it also shows why Bitcoin investors need to always keep their eyes peeled at the market since they can get so much extra cash if they withdraw at the right time.
Now that Bitcoin reached $5,000, the question that remains is when will it reach a new record? We can be sure that every cryptocurrency expert is doing its best in order to figure that out right now. Nonetheless, what we can take from this price spike is that there isn’t going to be a much better time to start investing in cryptocurrency other than right now because the next price record might be just around the corner.