Bitcoin has finally topped the $ 3,000 per BTC average on global exchanges. In fact, it didn’t stop there, hitting an all-time high of $ 3,230 in early August. The decentralized cryptocurrency now has a market capitalization of a whopping $ 51.9 billion, while trading platforms are currently seeing an intense exchange volume of $ 1.6 billion. BTC trades in the past 24 hours.
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Bitcoin is trending worldwide
On August 5th, Bitcoin exceeded the threshold of USD 3000 per BTC on the Bitstamp trading platform. It wasn’t enough for Bitcoin to smash the $ 3,000 vantage point as BTC prices hit an all-time high of $ 3,230. At press time, a BTC costs around $ 3,150 as traders take some profits from the overnight high. Some speculate that the price hike could be due to the end of the BIP141 voting period and the possibility of enabling the Segregated Witness (Segwit) protocol. Currently, much of the network’s hashrate is focusing its efforts on this plan as the first half of the “New York Agreement,” also known as Segwit2x. There are currently 621 blocks left before Segwit goes live on the Bitcoin network. The second half of the agreement includes the activation of a 2MB hard fork on the network approximately 3 months after activation.
Segregated Witnesses will be included in the network until the end of the month.
It’s also worth noting that the price rose during the recent announcement by global law enforcement about the shutdown of the two largest darknet markets, Hansa and Alphabay. In addition, the BTC e-exchange was also confiscated and the price has not moved at all. It seems that Bitcoin markets have been resilient enough not to bounce back from last year’s Bitfinex hack, the most recent ETF decision, and now the last two darknet market takedowns.
Additionally, the price rose amid a hard fork. The developers of the client Bitcoin ABC and others have set out to create their own network. This in turn created a new token called “Bitcoin Cash” (BCH), which has a block size limit of 8MB and also removes Segregated Witness. Although the blockchain split occurred on August 1st and the two Bitcoin communities went their separate ways, the price of BTC remained extremely optimistic. When Bitcoin hit a high of $ 3,230 on the global exchanges, BCH tokens hit a low of $ 200-250 depending on the exchange.
The digital asset bitcoin has come a long way since the first issue of bitcoins was released into the wild on January 3, 2009. There are now 16.4 million BTC in circulation and the cryptocurrency is more popular than ever. As for the Google Trends site, interest in Bitcoin is exponentially higher than the 2013 surge in growth. Google Trends also shows that significant interest is coming from the east of the world, especially Asia, and many countries in the African Continent.
Bitcoin exceeds $ 3000 per BTC on Bitstamp and many popular exchanges. At the time of going to press, one BTC is worth between $ 3,130 and $ 3,165.
Record trading volume
In addition, the volumes of Localbitcoins around the world are also at All time highs Right now, people are trading over $ 20-30 million worth of bitcoins every two weeks. In addition to Localbitcoins and traditional exchange volumes hitting new highs, both are Paxful and the decentralized trading platform Bitsquare also see Record trading volume. In addition, countries like China, Japan, India and Korea dominate the Bitcoin trading volume as cryptocurrencies are in high demand in these regions.
Bitcoin is printed in newspapers around the world
As the value of Bitcoin broke through higher levels and exceeded the $ 3,000 price zone, the mainstream media reported almost daily on the success of the digital currency. In addition, Bitcoin stories are printed in newspapers around the world, in publications such as the Süddeutsche Zeitung, the Wall Street Journal, Today’s business, the Moscow Times and more. Mainstream exposure has resulted in more people around the world hearing about Bitcoin and attracting investment.
Celebrities, celebrities, and big name investors are talking about Bitcoin
In keeping with the mainstream media headlines that appear every day, many famous celebrities, celebrities, and well-known investors are also talking about Bitcoin. Shark Tank star Mark Cuban recently discussed the decentralized currency with his Twitter followers. In addition, more well-known people such as Chamath Palihapitiya, Dan Bilzerian, John Bollinger, Jeremy Liew and many others were observed discussing the potential of Bitcoin.
The bitcoin economy is getting bigger every day
It is currently estimated that more than ten million people worldwide own a tangible amount of Bitcoin according to to Cambridge University. 2.9 to 5.8 million users are actively using their Bitcoin wallets, and the total number of wallets in use in 2017 has quadrupled since 2013. Additionally, the Bitcoin network’s hashrate is processing over five exahashes per second as the mining power has grown exponentially. Almost every statistic in the life of Bitcoin has risen massively in the past year.
Bitcoin’s hashrate is currently a whopping 6,308,895,126 GH / s.
Breaking the $ 3000 per BTC area is a great milestone for Bitcoin, but there are many other groundbreaking events happening frequently across the network. 2017 has been one of the most interesting years so far and the next six months will certainly be even more exciting. $ 3,000 is just one of many price records to be broken as many Bitcoin proponents believe the appreciation in value is just beginning.
What do you think of Bitcoin breaking $ 3,000 per BTC? Let us know in the comments below.
Images via Pixabay, Warner Bros., Süddeutsche Zeitung, and Bitcoin Wisdom.
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