The current Bitcoin price has reached an all time high. It touched the $470 mark on 26th April sending out shockwaves through the entire cryptocurrency domain. It still seems quite unreal but the bitcoin has almost doubled its value in the last one year. This came as a surprise and left everyone awestruck.
It can’t be ignored that the news comes at a time when bitcoin is facing a tough competition from numerous competitors. But despite of that, it seems to be unstoppable. The Bitcoin Price is rising continuously and without a pause. And not just price, even the user base of bitcoin is also doubling every several months.
The Rise And Fall of BTC Value
The bitcoin value reached an inter-day high of $470.16 on 26th April. As a matter of fact, the BTC value was reported to be just $219.93 on the same day in 2015. So, it shows an impeccable rise of more than twice its value in a short span of 12 months.
However, if we look at the statistics of last year, it hasn’t been that good for the bitcoin’s point of view. It suffered a major drop down last year, hitting a severe low point and remaining constant for quite a few days. But the growth shown by bitcoin after that has been exceptional and its price value has been rising steadily without any pause. It saw a few low points as well but they were so trivial that it didn’t have a major impact on the overall growth and expansion of bitcoin.
Statistics of The Month
Bitcoin has enjoyed a steady upslope over the past few weeks. If we talk about last month, the bitcoin price value was reported to be as low as 416 USD. But it surged out further step by step and day by day, beating down the price levels of $440, $450, $460 and finally touching the $470 mark by the end of this month.
However, the BTC value experienced a diminutive fall after reaching the $470 mark and it has finally settled at $451.77. But it is only temporary and it is expected to rise further in the coming days.
Can It Reach The $500 Mark?
Well, that’s the beauty of bitcoin. You just can’t predict where it might land up tomorrow. But seeing the ongoing trends, there’s a sound possibility of bitcoin reaching the $500 mark. Nevertheless, it won’t be the first time if bitcoin makes it to the $500 club. It first happened in late 2013 when the bitcoin price showed a revolting rise, taking it from $200 to over $1000. But owing to a major drop down in the following year, it’s value loomed around $250 for quite some time. But 2016 is proving magnificent for the bitcoin so far and there’s a sharp possibility that it can surpass the $500 mark. It has done that before and it can sure as hell, do it again.
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