Bitcoin Value Exceeds $2000 For The First Time

Many cryptocurrencies have come and gone over the years but Bitcoin never went away. Granted, there have been massive swings in its value, but Bitcoin never truly disappeared from the scene. There has been a resurgence in its value over the past few months, so much so that the Bitcoin value has now crossed $2000 for the first time ever.

The first time that the Bitcoin value hit $1000 was back in 2013. However, it soon slipped down significantly after there were some issues with one of the largest Bitcoin exchanges, Mount Gox.

The cryptocurrency’s value saw intense swings based on rumors and news since then but it has more or less stabilized over the past year. The value has been steadily rising as well.

The Bitcoin value is now at an all-time high of $2000. It also brings the market cap, a measure of the total amount of Bitcoin in circulation, to a staggering $32.92 billion.

Bitcoin now accounts for 47 percent of the total market cap of all cryptocurrencies combined, which according to some estimates is around $70 billion.

It merits mentioning here that other cryptocurrencies have seen significant growth over the past few months as well which is why Bitcoin no longer accounts for 80 percent of the total market cap like it did only a few months ago.

Adnan Farooqui
Categories: Web
Tags: bitcoin