FORBES: Bitcoin Finds Strength Near $4,000
Bitcoin prices have been fluctuating around $4,000 for more than a week, flying high in spite of the currency’s potential headwinds.
The cryptocurrency’s price has risen more than 300% year-to-date (YTD), and even after suffering some recent volatility, Bitcoin has managed to retain the overwhelming majority of these gains, according to the CoinDesk Bitcoin Price Index (BPI).
Since breaking through $4,000 on August 12, Bitcoin’s price has mostly traded above this key psychological level, reaching fresh, all-time highs and fanning the flames for those who believe that a bubble may be brewing.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Bitcoin’s price has skyrocketed this year as cryptocurrencies continue to attract robust inflows from eager investors.
The total market value of these digital assets has surged more than 500% YTD, according to CoinMarketCap, illustrating the substantial enthusiasm surrounding the space.
Bitcoin has managed to ride this tidal wave of interest, climbing in value even as the cryptocurrency community faces notable uncertainty ahead of a hard fork scheduled to take place in November.