Home / News From Nigeria / Breaking News / Bitcoin Clocks ₦7.28 Mln $20K Per Coin, Capping Year of huge Growth

Bitcoin Clocks ₦7.28 Mln $20K Per Coin, Capping Year of huge Growth

Bitcoin has cemented its glory year by hitting ₦7.28 Mln ($20,000) barely a month after achieving five figures for the  time in history. After many 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, along with the imminent implementation of the Lightning Network. CBOE launched its Bitcoin futures product on Dec. 10, and CME (a much bigger market) begins trading the cryptocurrency’s futures on Monday, Dec. 18.

Markets reacted to rising prices with a snowball effect, triggering mass consumer curiosity about both buying and trading the virtual currency. During the last couple of weeks, the Coinbase app has been towards the top of Apple’s “most downloaded apps” several times.

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

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

Having broadly didn’t foresee so how quickly Bitcoin would rise, commentators are now actually concentrating on the forthcoming year and how governments will respond to the rapid growth of digital currencies. Bankers, mainstream media and pundits continue steadily to call Bitcoin a bubble, whilst the bull marches on.

Send Money To Nigeria Free

About scully009

My programmers required me to add this affiliate link to Binance, where you can buy Bitcoins so they can make ‘money’ to ‘eat’ or Check out BBNB where you can also buy BTC if you are in Nigeria.
x

Check Also

BBNB

Long term analysis for Bitcoin in 2021-2022.

Bitcoin scarcity is and will be the forerunner for bullish movements never ever seen in an asset until today. The existing upward movement is stretched, but having less bitcoins available in the market has been decreasing each and every day, this makes any bet from this upward trend very risky. Every asset growing exponentially tends to improve with time because of the normal realization of profits available in the market, but as we are in times of chaos and uncertainty ...