The famous cryptocurrency is looking to surge higher and higher this year as it creeps back up to the $17,000 figure earlier on today’s trading session. The digital currency managed to claw back some of the losses it suffered on previous trading sessions and is looking to be set to another massive surge just before the year ends.
Bitcoin managed to reach tremendous highs this month alone, especially with the massive surge it had after the Thanksgiving. The digital currencies managed to register a massive amount of new members and client after the holiday run and kept its upbeat surge until today.
According to the Coindesk, the Bitcoin recently managed to climb back at $17,000 and tallying a new high on the Bitcoin Price Index. Furthermore, the digital currency managed to hit a $17,382.64 figures and overtaking the massive December 7 price which was at $17,364.56; this means that the digital currency managed to recuperate a total of $2,000 in the same session.
All-in-all, the digital currency managed to hit push a tremendous 14% increase on the previous session which is nothing short of incredible despite the few news and rumors about the Bitcoin bubble being popped anytime sooner.
Against the major currencies on today’s market, the BTC/USD was trading at an impressive $16,742.01 from the previous price which was recorded to be at $15,567.8 last December 8. On the other hand, against the pound, the Bitcoin as trading at 12,544.79 pounds, a massive dip from the previous 12,941.79 price which was recorded on December 11.
According to most analysts and coin enthusiast, despite the negativity that that Bitcoin and the digital currency community in general, a buy is still an advice as the prices won’t dip any further down and it will continue to bullish run all throughout the year. Most analysts believe that the price may surge to the $20,000 mark just before the year ends.
On the bleaker side, the price may dip as a massive selloff can hinder the price fluctuations as traders’ looks to sell as prices remain volatile. This is a foreseeable event as a recent selloff, which was after the digital currency hitting the $16,000 figures and dwindling down back to the $14,00 levels after.