bitcoin

Bitcoin rises to new record, now above $4K

Just over 25 days ago, Goldman Sachs predicted that Bitcoin May Go Over $3,600. The prediction was made at the time when Bitcoin price dropped under $2,000 per coin. We predicted it was the right time to buy Bitcoin.

In last 24 hours, Bitcoin rises to new price per coin record and on Saturday crossed $4,000 for the very first time in the digital currency history. It is boosted by strong Japanese demand and is now up about 40 percent in August alone. Bitcoin’s trade in Japanese Currency “Yen” mounted for almost 46 percent of the global trade volume resulting in the price rise.

It is still noteworthy that Bitcoin’s future is uncertain. It seems like the currency could split again specially around November because the second phase of Segregated witness may be implemented.

Chris Burniske, author of the upcoming book, “Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond,” says a pullback in price should not be surprising after such a rapid surge of Bitcoin.

Also See: Bitcoin could go to $250,000 by the year 2020

Via: CNBC

 

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Written by Hisham Sarwar

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