Bitcoin trades above $5000 for the first time ever
Oct 12, 2017 Technology 2954 By Barakat Husseini
- Bitcoin trades above $5000 for the first time ever.
- The digital currency has soared 750% in the past year.
- Financial analysts warn of an impending price bubble.
The Bitcoin which now worth four times as much as an ounce of gold, currently trades at over $5,000 which is a new all time high for the famous cryptocurrency.
With an initial trade
value of $966 at the start of the year, the Bitcoin currently trades for $5,186 further establishing it as the most valuable and established cryptocurrency of all time.
This continuous rise of the Bitcoin and other cryptocurrencies comes even as analysts continue to issue warnings of a potential price bubble even though the digital currency has soared 750% in the past year.
One of the key benefits of using this cryptocurrency is that it essentially allows users bypass government and banking regulations and almost remain anonymous.