Bitcoin has passed the $10,000 per coin mark again, marking the first time it has done so in over two weeks following a big fall at the beginning of February. The price of a Bitcoin has been steadily increasing since that point, however.
Keeping up with the price of Bitcoin right now is something of a full time job, and while it has always been a very volatile currency to track, the rise and fall of its value over the past few months has been of great interest to many.
Cryptocurrency is in the news the world over right now, with Bitcoin leading the way. In fact, the flagship cryptocurrency currently accounts for around 35% of the total value of all of the crypto coins out there, and with a single coin having reached the all-time high of $19,000 just before the end of December, it’s easy to see why all eyes are on it.
While it is difficult to know just why Bitcoin saw a fall in value a couple of weeks ago, The London Block Exchange, a UK crypto exchange, believes that it may have something to do with the Lunar New Year according to a market update it published.
“Tomorrow is the first day of the Lunar New Year and some families are replacing their red envelopes of cash for bitcoin gifts. In each of the past three years, the crypto markets have experienced corrections three weeks before this important day”
Not everyone is on the cryptocurrency train though. Multiple countries have banned or suggested bans, with some banks also taking steps to prevent their customers from using their credit cards to make purchases of digital currency.
If you are looking to invest in cryptocurrency, which many tout as being the future of currency, we have a full guide on how to get started right on your iPhone or Android, which you can follow here: How To Buy Bitcoin From iPhone Or Android Device The Easy Way.
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