This month, the price of Bitcoin has seen an increase of more than 26 %. For the first time, the value of this crypto-currency exceed the 8 000$. The Bitcoin is currently at around 8 071,05 dollars. An increase of over 700 % has been recorded this year. Despite the decrease of 29 % at the beginning of the month of November, the digital currency has made a considerable leap forward. Even though many investors like the CEO of JPMorgan refer to this market as a bubble, the Bitcoin today occupies an important place in the global economy.
Investors are increasingly attracted to this digital currency. Moreover, the next month, CME Group Inc, the largest stock exchange in the world, will begin to offer services in exchange of Bitcoins.
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The volatility of Bitcoin pushes investors to turn to Altcoins
The recent volatility of the market of Bitcoin has led users to turn to other digital currencies, particularly Bitcoin Cash. The latter has gained popularity due to the lower cost of transactions and the processing speed much faster.
New digital currencies have made their appearance after disagreements on the evolution of Bitcoin. But analysts have been clear on this subject, providing for a new increase. Some have even predicted that the value of Bitcoin would reach $ 10,000 by the end of the year.
The market analysis
Yesterday, the price of Bitcoin has reached 8 101,91 dollars. This increase occurred after the digital currency has been declining in the last week. The experts are already waiting for an increase at the end of the week.
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This decrease was primarily related to the cancellation of an upgrade of the technology. This situation has discouraged the users, pushing them to opt for Altcoins, such as Bitcoin Cash.
Source : Bloomberg