Bitcoin Price Crosses $5,000 To Reach An All-Time High

In News
At the
start of this year, Bitcoin was trading at around $1,000. Today,
the Bitcoin price has soared to an all-time high,
crossing $5,000 mark. The new record has smashed the previous bar
of $5,013, which was set in early September.

Currently, Bitcoin is trading at $5,291. While the week-to-week
growth is 18.75%, the month-to-month increase is around 23
percent.

This exponential growth is remarkable due to many reasons. On
the one hand, China is closing
Bitcoin trading
in the country, Russia is planning to
implement a ban on the access
to Bitcoin exchange websites
in the country. The Chinese
crackdown was the chief factor responsible for the earlier
plunging.

So, why is this rise being witnessed in the cryptocurrency
world? Some are seeing that the Bitcoin bubble is yet to show
more progress before bursting and running towards a downward
spiral.

The next few months are inevitably going to be crucial for
Bitcoin traders and trade analysts. In the past, JP Morgan
CEO, Jamie Dimon, had labeled Bitcoin a fraud that would
end up blowing up. Similar sentiments have also been expressed
by other leaders of the banking industry. Whatever might be the
reason, it’s interesting to see Bitcoin’s journey.

What are your expectations from the ongoing Bitcoin boom? Don’t
forget to share your views with us.

Also Read: 5 Easy Ways To
Block Cryptocurrency Mining In Your Web Browser

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