Bitcoin Latest Price : over $ 20, 000 per coin !

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Bitcoin provides a decentralized electronic platform based on Blockchain technology and is highly differentiated from traditional online banking.

World’s most popular cryptocurrency has hit a threshold of over $ 20, 000 per coin, while in total, its price has seen a 37 percent rise this week only.

Since the beginning of 2017, the price of Bitcoin has skyrocketed, from $997 on January 1 to over $9,000 by the end of November. The futures are believed to further increase its value and result in wider acceptance of the cryptocurrency on the financial market.

Earlier this month, Denmark’s Saxo Bank issued a report dubbed “Outrageous Predictions” predicting Bitcoin’s phenomenal growth to the value of some $ 60, 000.

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Bitcoin is the first international decentralized digital currency. The system works without a single administrator or central repository, while transactions between people are made directly without an intermediary.

​The currency was released as open-source software in 2009 by an unknown person or group under the name of Satoshi Nakamoto.

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Bitcoin has cemented its glory year by hitting $20,000 barely a month after achieving five figures for the first time. After several weeks of considerable volatility, mixing rapid growth with sudden declines, momentum finally boosted Bitcoin to its new historic high.

Outperforming almost everyone’s expectations in 2017, Bitcoin prices received a decisive push from Wall Street regulated futures trading, as well as the imminent implementation of the Lightning Network. CBOE launched its Bitcoin futures product on Dec. 10, and CME (a much larger market) will begin trading the cryptocurrency’s futures on Monday, Dec. 18.

Markets reacted to rising prices with a snowball effect, triggering mass consumer interest in both buying and trading the virtual currency. Over the last few weeks, the Coinbase app has been at the top of Apple’s “most downloaded apps” several times.

Bitcoin has grown by 1,950 percent in 2017, having started the year at the comparatively tiny $974.

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The barrier was in fact crossed considerably earlier in some markets, specifically those where demand outpaces supply and economic policy is fragile, such as Venezuela and Zimbabwe.

Having broadly failed to foresee just how quickly Bitcoin would rise, commentators are now focusing on the forthcoming year and how governments will react to the rapid growth of digital currencies. Bankers, mainstream media and pundits continue to call Bitcoin a bubble, even as the bull marches on.

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