What The Price Action for Bitcoin is Over The Past 6 Years

0
33
bitcoin investors cryptocurrency

While those who trade bitcoin think that it is the future of currency, those who are skeptical think it is a bubble market that is marked by speculation and will pop soon enough. At the current moment however, the price of bitcoin shows no signs of retreating. The largest cryptocurrency by market cap, bitcoin, hit a record high passing $11,000 per coin on Wednesday, November 29th.


Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747


This represents an almost $1,000 price gain in around 12 hours. This type of price action is almost unprecedented in any other market of the sort, and the gains in this investment cannot be matched. The price of one single bitcoin has gone up over 1,000% over the course of this year alone, and does not look to be slowing down anytime soon. This past day of price action has represented an over 15% increase in price in such a short amount of time.

Looking at the price chart, some fear that there may be a bubble forming in the market, and that it could potentially burst in the coming months, but this seems unlikely given the stable amount of support. Those who are in favor of the currency think that if the market capitalization of around $200 billion continues to reach, it will grow out of its infant state and continue to mature. There are currently over 120 “cryptofunds” that have launched in the past year or so, but several Wall Street investors think that this is only a further sign that the market will crash in an imminent future.


Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747


The hopes are high that the market can continue with the large amount of potential it currently has to disrupt the world financial market, and continue with the strong gains overall.

LEAVE A REPLY

Please enter your comment!
Please enter your name here