Bitcoin Price Crosses $3500, Jumping More Than 10% On The One Year Anniversary Of $19,000

by | Dec 18, 2018 | Bitcoin

Bitcoin | bitcoin price | Bitcoin peak anniversary
Bitcoin News: The foremost cryptocurrency Bitcoin (BTC) observed a minor recovery on Monday, finally topping the $3,400 level on its one year anniversary. On December 17, 2017, BTC peaked to its all-time high, just above $19,475, a year later the token stands more than 80 % below. According to industry data site CoinDesk, Monday’s are proving to be good for BTC as since the last week of November, the token some recovery on the first day of the week. While it has dropped more than 50% in the past three months, it has jumped 11% to a high of $3,437.57. Mati Greenspan, the senior market analyst at eToro, stated:

“As a relatively new concept, cryptoassets are still finding their feet in terms of value. It’s important to remember that all assets, in every market, experience a process of price discovery, and that cryptos are no different.

Bitcoin’s Peak Anniversary 

After its peak last year, the entire cryptocurrency market capitalization has fallen by more than 80%. In December 2017, the market value was about $592 billion, which is currently holding at $109 billion this week. Undoubtedly, since its inception 10 years ago, BTC has performed and grown remarkably, especially its bull run last year that brought the token mainstream attention. The growth has inspired some institutional interest as well. Despite its bear run this year, giants like Fidelity and Bakkt are gearing to launch bitcoin futures in 2019. Greenspan said:

“Since its inception 10 years ago, bitcoin has already experienced four retracements, similar to what we’ve seen in the past year. Bitcoin will find its natural centre of gravity, it’s just a matter of time.”

Read more: LinkedIn Reveals That 2018’s Most Growing Job Sector Is Blockchain Developer

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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