If a lot of investors and cryptocurrency enthusiasts believed that Bitcoin’s price will eventually stop growing with each day after this week’s events (the coin registered a sudden increase, followed by a drop), they were completely wrong.
Over the weekend, starting with 11:00 UTC, it saw a sudden surge, according to Coin Desk‘s Bitcoin Price Index, rising from $11,115 and reaching $11,655. This marks another absolute high for the cryptocurrency, but we’re looking forward to seeing an even bigger value in the upcoming days.
Another day, another absolute high
This is an almost 5 percent high from the past absolute high, which was roughly $11,300. Also, all-in-all, Bitcoin managed to grow by nearly 7 percent on the day, raising around $700, considering the average opening of $10,895 across global exchanges.
After this new mark was reached, the total value of all cryptographic assets is now close to $350 billion. Still, the market is yet to cross the total, but a quick look at the charts reveals gains across all the available assets.
Currently, all the top 10 coins – by market capitalizations – are in the green. To be more specific, Bitcoin Cash closed on its all-time high at $1,621 (more than 12 percent on the day), while Bitcoin Gold managed to grow with almost 13 percent, trading at $340.
It will be very interesting to find up whether markets consider that Bitcoin can grow even more in the following days, giving that throughout the year, it registered a gain bigger than 1000 percent.
Two more weeks until the biggest value ever?
Also, a very interesting moment to watch will be December 18, the day in which three new Bitcoin derivative products will be launched in the United States. And naturally, this could enable Wall Street to short the asset.
On the other side, the coin is still seen as a bubble expected to burst at any moment by a lot of important figures in the financial world and not only. But what if the bubble won’t burst and Bitcoin becomes the most powerful asset in the world?