Yesterday Bitcoin the famous digital currency accepted in most the developed country makes another history today by crossing a high price of $5800 mark. Two months ago, we wrote an article on bitcoin hitting an all-time high of $3000 and then back again in June another article of bitcoin closing at an all time high value of $4,640.93
After the hard fork there has been an exponential growth in the price of the bitcoin. The current Indian value of one bitcoin is approximately 3,51,074.
After China shutting down the major bitcoin exchange the price of bitcoin was on a downfall. From the start till the 2014 U.S was the major trading market with 92% of worldwide trade. After 2014 and some legal complication there was a decline in U.S. bitcoin trade and majority of bitcoin trades were from China. China almost dominated from 2014 – 2016, weeks subsequent to Beijing restricted raising support through token launches and requested some bitcoin trades to close, throwing a chill over the digital currency industry, merchants say that the market is a long way from dead.
China being completely out of the scenario the small market player Japan has now took the major trade share become 51% of the market. US Dollar meanwhile represent 31% of the trade, Korean investors are starting to make up a bigger piece of the general market, they are as yet a moderately little segment at around 7% of aggregate exchanges the most recent month.
It is been said that the chances are for a bitcoin to set a new benchmark of reaching $6000 mark. With Bitcoin getting legal and a mode of payment in Japan and a support from Korean with U.S. still in the race those figure just looks possible
