Bitcoin leaped over $4,000 for a coin on Sunday and holds above that mark in early trade today. The cryptocurrency passed the $4,000 point near 1 a.m. on Sunday and is now somewhere slightly over.
UK MD of trading platform eToro Iqbal V. Gandham in a written statement pointed out that Bitcoin breaking through $4,000 is another significant event among many that happened to it in the past few weeks. After plummeting to $1,800, it has recovered strongly and quite steadily. This instils confidence.
He also said that along with that, the ecosystem is growing stronger. Now there are more and more places accepting Bitcoins, more regulators trying to build the necessary infrastructure, and investors discovering it are multiplying. Discussions tend to be shifting from price to looking more into the ways of using it.
Bitcoin has made great strides this year, up over 300% during this year alone. It was just this month that the cryptocurrency crossed $3,500 point.
Other player in the cryptocurrency world – Bitcoin Cash, the new digital currency that derived from Bitcoin earlier this month, is making great gains as well. Bitcoin Cash has gone up 6.99% and costs $319.25.