Bitcoin value reaches all-time high, blows past the $4000 mark
A few weeks ago, we reported the forking up of Bitcoin, as the currency was effectively split into two: The regular Bitcoin, and the less valuable but more convenient Bitcoin cash. The fork caused a temporary lull in valuation, a lull that has been succeeded by a nigh-meteoric rise that has seen the crypto reach an all-time high in value.
At the time of the fork, Bitcoin was traded at prices just below US$3000 but over the following two weeks, has experienced a rise that culminated in the crypto trading at just under US$4500. It's quite impressive, as some expected the value of the currency to drop even further.
The total market valuation of Bitcoin, keeping in line with the recent trend, has soared to about US$139 billion, a significant increase on the US$120 billion it was at last week.
Considering the volatility of the currency, it's almost futile trying to predict future trends, but you'll probably be safer not investing in the currency now, as it's likely going to experience a stabilizing fall. Or not, no one really knows.