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Bitcoin surges to record value of $16,000

07 December 2017 4

It seems that the value of a Bitcoin known no bounds. The cryptocurrency has now hit yet another all-time high, crossing the $16,000 threshold today. Considering how one Bitcoin valued at $3,500 just three months ago, that is phenomenal growth by any and every standard.

Bitcoin has been constantly increasing in value. It was ruled out for daily transactions long ago, and is now mostly traded for its investment value rather than its utility.

Where is its value going to peak and level off? No one knows - no one could even have thought it would reach such a height in the first place. The only thing certain about it is its uncertain future. Analysts believe that it is a bubble, waiting to burst. And that might well be true, considering how volatile the currency is. Even though the general trend has been upwards, Bitcoin value does drop by thousands of dollars within hours.

Such blips are only temporary, but there's no knowing when something will stick. Earlier today, the value climbed as high as $18,900, but dropped soon after to a stable $16,000.


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Bitcoin surges to record value of $16,000
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