24 hours ago the cryptocurrency was trading below $3,700. About an hour ago it surged passed $4,000 and has no signs of stopping. It\u2019s now trading around $4,135.00. For reference, a week ago Bitcoin hit an all-time high as it\u00a0passed $3,000 for the first time.<\/p>\n
Check out the chart below to see what the price has done in the last 24 hours.<\/p>\n
So the million\u00a0 Without wasting too much of your Saturday night with detailed analysis, here are a few possible reasons you can tell your friends during brunch tomorrow.<\/p>\n Two weeks ago Bitcoin went through a hard fork, and came out essentially unscathed. Sure, a\u00a0bitcoin-clone called Bitcoin Cash was created, but it\u2019s gotten a lot less attention than most people expected. A few days later\u00a0Bitcoin locked in SegWit, a code modification that fixes\u00a0malleability issues and frees up space in blocks, allowing for more transactions to be stored in each one.<\/p>\n These two code-related developments have helped boost conference in Bitcoin\u2019s future.<\/p>\n Another reason \u2013 the\u00a0ICO frenzy. The amount recently raised via initial coin offerings have now (at least temporally)\u00a0topped\u00a0amount raised via early stage venture capital. Just last week\u00a0Filecoin raised $180\u00a0million<\/em>\u00a0in a few hours. Most investors have to convert fiat currency to bitcoin or other cryptocurrencies to participate in ICOs, which could be driving up the price (and providing some investors with their first taste of bitcoin).<\/p>\n Another reason \u2013 Wall Street\u2019s new obsession is bitcoin. You can\u2019t watch CNBC for five minutes without seeing a trader or analyst give their opinion \u2013 which is usually something insanely bullish like \u201cit\u2019s going to be the best performing investment of the year\u201d. For better or for worse, statements like these are getting non-technically inclined investors interested in bitcoin, some of which are definitely buying coins for the first time.<\/p>\n So what happens next? No one knows. Bitcoin could crash 50% to $2,000 tomorrow or spike to $5,000 \u2013 and I don\u2019t think anyone who truly knows crypto would be surprised at either option. E<\/p>\n veryone has a different opinion \u2013 some say the bubble is oversized and should have popped months ago \u2013 others think that bitcoin is currently just a fraction of what it could eventually trade at.<\/p>\n Whichever camp you fall in, here\u2019s one friendly reminder: don\u2019t invest more than you can afford to lose \u2013 because if you ask anyone who\u2019s spent more than a few months in the cryptocurrency world they\u2019ll tell you it\u2019s a roller coaster.<\/p>\n –<\/p>\n Source: Tech Crunch<\/p>\n","protected":false},"excerpt":{"rendered":" 24 hours ago the cryptocurrency was trading below $3,700. About an hour ago it surged passed $4,000 and has no signs of stopping. It\u2019s now trading around $4,135.00. For reference, a week ago Bitcoin hit an all-time high as it\u00a0passed $3,000 for the first time. Check out the chart below to see what the price […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[106],"tags":[9776],"yoast_head":"\ndollar<\/del>\u00a0bitcoin question is\u2026why now?<\/p>\n