Today, Bitcoin reaches it's all time high over the course of 34 months! It traded as high as $788.49, the highest price since the collapse of the Bitcoin exchange Mt. Gox in February of 2014. The exchange ended due to a claim of bankruptcy. With the exchange gone, it caused Bitcoin's price to peak just under $1200 in late 2013.
Market Capitalization
At this moment in time, Bitcoin has a market capitalization over $12.5 billion and has been raising since. The Chinese Government have claimed that they might crack down cryptocurrency outflows. The digital currency capitalization has been raising since October.
China dominating Bitcoin?
To this day, China is still the biggest area where Bitcoin is dominated. Many exchanges and a substantial amount of miners are in China as electricity is very cheap starting at $0.04 USD. Also, Bitcoin trading was high in Venezuela due to the collapse of the Venezuelan bolivar. It forced them to find a way to 'store' their wealth.
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In my next post, I will be talking about why Bitcoin will continue to rise in price, so stay tuned!
Thanks,
JackManMania