On June 26, Bitcoin passed the mark $13000, after several minutes it shed about $1000. At 6 pm ET, Bitcoin’s price was back to $12000-plus cost.
The reason for this wasn’t clear, but we all know that cryptocurrencies are famous for their price swings. A preceding bitcoin craze hit a fever strike in 2017. At that time, more accurate in January 2017, Bitcoin’s rate increased to $20000 from just a few hundred dollars. But the rate decreased again. During the last four months, Bitcoin’s value was floating at around $3000.
Experts of the field explain, that the weakening of USD and hot discussions about digital currencies’ regulations brought to this spike in demand.
Bitcoin reached $10000 mark on June 21 for the first time in 15 months. The main trigger for this is supposed to be Facebook’s announcement about cryptocurrency launch.
Bitcoin may lose its niche if Libra currency becomes more preferable among the users. But there’s an opposite side, the launch of Libra renewed discussions among governments and economic leaders and this can support the legalization of alternative currencies in the eyes of consumers.
For keeping up Bitcoin’s price, check out our “Price indexes” section.