Bitcoin Tops $15K, Surging about $3K in 33 Hours

Cornelia Mascio
Dicembre 7, 2017

The currency gained 6 percent in early morning trading, surging past the $12,000 mark to hit $12,488.

On Wednesday, Bitcoin exchange rate rose by 10.5% to $13,081 for the first time. Later, however, it lost 20 per cent of its value in one day.

The latest cryptocurrency prices are online at Coindesk - here you can see historic prices as well as the up-to-the-minute value. Since the last month, Bitcoin breached the levels of USD 7,000; USD 8,000; USD 9,000; USD 10,000; USD 11,000 and now USD 12,000. Over the year bitcoin has risen by 1,574 percent.

However, this hasn't slowed down Bitcoin, more and more people across the world are taking their chances on the bitcoin lottery, with institutional investors getting ready for crypto trading. At its core is decentralized technology that helps in secure payments without involving any bank or any person's name. "This is a very, very unusual market, that shows we're not in a normal two-way trading market". Once viewed as historic milestones, bitcoin has begun to knock down the thousand-dollar markers in quick succession, rendering them much less exciting than they were even one month ago.

"Having this instrument that makes it easier to short might keep the bitcoin price a little closer to reality", he told Bloomberg's Matt Levine.

Bitcoins are created through a complex computer process known as mining, and then monitored by a network of computers across the world. Miners use special software to solve math problems and are issued a fraction of a bitcoin as a reward.

Bitcoin is the largest cryptocurrency by market capitalization. The good thing about Bitcoins however, is that all Bitcoin transaction data is transparent, meaning that is can be seen on a blockchain, no matter how many transactions have taken place.

Over the previous year, the currency's popularity has been buoyed by a larger phenomenon of initial coin offerings-sales of cryptocurrencies that compete with bitcoins.

What is interesting to note that only 21 million Bitcoins can be mined and about 16 million Bitcoins are already in circulation.

There is a mystery behind bitcoin's creator.

Who is the creator of bitcoin?

Nor is it clear if Nakamoto is still alive.

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