Bitcoin passes the $8 000 mark for the first timeBy Robin-Leigh Chetty 21 November 2017 | Categories: news
Cryptocurrency Bitcoin shows no signs of slowing down since passing the $7 000 valuation mark at the beginning of the month, surpassing the $8 000 milestone earlier this week.
The past year has proved highly productive for Bitcoin, seemingly breaching several milestones, then steadily staying above them. The same rings true of this most recent valuation, with the price of Bitcoin holding firm at $8 250, according to TechCrunch.
While the precise reason for its recent skyrocketing rise remains unknown, Fitz Tepper of TechCrunch asserts that much of its success is down to the financial industry's interest being piqued by the cryptocurrency. With its potential hard to pinpoint, it appears that Wall Street is aiming to cash in on its newcomer status, with an estimated 100-plus cryptocurrency hedge funds popping up over the past year.
While the value of Bitcoin is still difficult to decipher at this stage, most savvy investors will be watching its rise with some interest.
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