Short Bytes: The web-based cryptocurrency Bitcoin is basking in golden glory in the year 2017. For the first time in 3 years, Bitcoin’s price has crossed $1,000 mark. The surging trading volumes in China have also contributed to the demand and pushed further rise in the bitcoin price.The new year is surely looking pleasant for the bitcoin miners. This web-based and decentralized digital currency is trading beyond $1,000 in 2017.
The bitcoin price kissed a high of $1,025 on the Bitstamp Price Index (BPI). These numbers are an all-time high since January 2014. At the time of writing, 1 Bitcoin valued at $1,013. This rise was seen on the first day of 2017 when bitcoin began trading at $965.36.
For those who don’t know, Bitcoin is based on Blockchain, which consists of a global computer network and cryptographic protocol. Over the years, Bitcoin has emerged as the most popular cryptocurrency.
Cryptocoinsnews reports that Chinese investors are further fuelling the bitcoin demand due to the new regulations imposed by the Chinese government.
Just in case you’re interested, here’s a live bitcoin map.
Bonus: For the bitcoin novices, here’s an interesting infographic I found on Twitter:
— ipfconline #CES2021 (@ipfconline1) January 1, 2017
Did you find this Bitcoin development interesting? Don’t forget to share your feedback and views.