Bitcoin’s Price Moon Bound Breaking $1400 and Climbing

The price of bitcoin has escalated once again to higher levels, surpassing the $1400 range on a few exchanges. As bitcoin’s successful run continues, many are starting to wonder — How high will the price go?

Also read: News Outlets and Journalists Are Being Threatened By Onecoin Lawyers

Bitcoin Outperforms Traditional Assets as the Price Continues to Climb to New Heights

Bitcoin’s value is rising to levels unseen before as the decentralized currency now captures a $23 billion market capitalization. The first quarter of 2017 has been good for bitcoin as the price has remained above 4-digits consistently for most of the year. Furthermore, the price per bitcoin has outperformed every fiat currency in existence and surpassed the spot price of one troy ounce of gold as well. People are beginning to realize bitcoin is a safe haven for failing economies, an escape from capital controls, and a digital asset like no other.

Bitcoin's Price is Moon Bound Breaking $1400 and Climbing

The Rise of Ethereum and Overall Cryptocurrency Markets

Bitcoin's Price is Moon Bound Breaking $1400 and Climbing Bitcoin isn’t the only cryptocurrency performing so well. In fact, a great majority of the top twenty token assets according to have seen significant price rises. The forerunner of all these alternative tokens, Ethereum is second largest market compared to bitcoin and is capturing quite a bit of value very fast. Ethereum has reached an all time high as well reaching $82 per ETH on April 30. Alongside this, Ethereum has amassed a whopping $7 billion dollar market capitalization in mere days.

Meanwhile, traditional markets like the NYSE, are floundering compared to the exciting growth of cryptocurrency markets. Overall cryptocurrency markets are now approaching $40 billion in net worth as many altcoins are performing like never before. Many spectators believe digital assets like bitcoin have moved from being a fringe technology to the mainstream this year.

The Honey Badger Just Doesn’t Care

Bitcoin's Price is Moon Bound Breaking $1400 and Climbing Furthermore, bitcoin has managed to shrug off negative news more easily than ever before. Last summer’s Bitfinex incident shocked markets but steadily rebounded after the hack. The news stemming from Chinese bitcoin exchanges this past January suspending withdrawals also gave the price a little hiccup, but subsequently, the BTC price regained its value. Moreover, just recently Bitfinex has announced exchange issues with banking partners and halted USD withdrawals. Once again the ‘Honey Badger’ of money just doesn’t care, and the price has continued to climb.

Quite a few speculators and forecasters believe the price will test the $1500-2000 range this year. So far bitcoin is up over 200 percent looking at the year-over-year average and proving to be an unstoppable monetary force.

Bitcoin's Price is Moon Bound Breaking $1400 and Climbing
Global exchange volumes and bitcoin’s fiat value continues to climb.

Exponential Global Adoption

There have been many reasons to why the price of bitcoin is continuing to rise. Some are attributing the demand to countries like Japan, India, and China which are all experiencing exponential bitcoin adoption. Speculators are also pointing at failing centrally planned economies, government’s fiat manipulation, and demonetization, and capital controls stopping individual citizens from moving wealth. Furthermore, research stemming from the Cambridge University study reveals the bitcoin economy is bigger than ever before and continues to grow.

Bitcoin's Price is Moon Bound Breaking $1400 and Climbing
Global Localbitcoins volumes reach all-time highs.

It’s exciting to see the bitcoin ecosystem doing so well, especially after the Mt Gox scandal, 2014’s bearish decline, the Bitfinex hack, and the many other negative headlines that seemed to try and slow bitcoin down. The bitcoin train continues to chug forward proving to be the most resilient peer-to-peer currency this world has ever seen.

What do you think about bitcoin’s performance? Let us know in the comments below

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  • Gary Fowler

    By 2140, there will only be 21 million bitcoins, and no more, making it far more rare than gold. I think $1,500 is toward the bottom end of the scale. Particularly with the world’s failing fiat currencies, and the coming hyperinflation, bitcoin should easily exceed $100,000 within a decade, and more. This is assuming, of course, that our fragile electronics survive solar flares, EMT phenomena, attacks, etc. Electronics are bitcoin’s Achilles heel

  • Us1xS

    pHjZFssG YdsaRLNjqkMHFa8 ue8k5q2 Gtf7LDrqQ bCH NXM!

  • Frank Zeleniuk

    Bitcoin will serve to decentralize the money supply. If it does that it will have served its purpose and many forms of “money” will arise, in my view. Don’t confuse money with currency though. There is a difference. Bitcoin could be considered money in the future but I think it will have rivals as well. I agree that electronics is its Achille’s heel.

    • Gary Fowler

      Bitcoin is money because it takes a great deal of time and computing power to mathematically mine it, just as it takes time and effort to mine gold. Bitcoin is also money because it is rare, much more rare than gold is. People recognize those qualities about bitcoin, and generally agree that it does indeed have value.

      Anyone who tells otherwise is a hardcore statist. They want the various cryptocurrencies to go away and die. They want the criminal paper currencies to always remain, for it is quite easy to debase their value into the pockets of the rich.

      Constitutionally, bitcoin is not money, but bitcoin and politics were meant to be separate from one another. Politics is corrupt, and bitcoin is incorruptible.

      Bitcoin is mathematical, honest money, sans politics. It can be made strong enough that it can never be corrupted, anymore than gold can be. The central bankers cannot cheat bitcoin, and therefore wish to control it. We must not allow that to happen.

      The “many forms of money” are already here in the form of alt-coins: Litecoin, Ripple, etc.

      Bitcoin does not have any physical dimension, that is, it cannot be seen. But we know it is there because encryption software tells us it is, and it can be transferred to another party by using that software, due to the nature (encryption) of the coin itself.

      It is that very encryption that confounds the central bankers, because they already know they cannot forcibly decrypt it.

      A “bitcoin” is simply an encrypted piece of software that has a variable value “x” assigned to it, which is what at least two people agree that it is, in dollars, yen, euros, pounds, whatever, but it’s generally close to the “official” price, plus an optional premium due to localized risk factors. Successful decryption is necessary to spend it, or to spend any part of it, down to the hundred millionth, and transfer it somewhere else (Why the smallest part was not made a billionth, I’ll never know).

      On the other hand, currency is not money because it is literally created out of thin air. Let’s say you go to your bank, asking to be approved for a mortgage. The bank approves the application, prints a cashiers check, and hands it over to the selling homeowner. The currency covering that check does not necessarily exist in the bank’s vault, and most probably does not.

      The point is, is that the check that was printed represents money that does not belong to anyone. Nobody did any work for it, and yet the bank places the money into its own account as an asset, which must be paid off by the buying homeowner with his/her labor, plus interest, which was never printed.

      And it is in that manner, after 1865, that we were all made economic slaves by the bankers themselves, by pretending they own something that they do not: currency. Bitcoin and its sister currencies can never be corrupted in such an evil fashion as that.

  • Mark Sabbai

    As much as I like Bitcoin: I can’t understand why BTC is more precious than Gold. Man created crypto-currency whereas God created Aurum.

    • Us1xS

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    • sukramko

      god created humans and humans created bitcoins. Unlles humans are not Gods work I don’t see you can argue any further.

    • Gary Fowler

      Bitcoin isn’t more “precious” than gold, but it is much more rare than gold, by design. Even by 2140, when we will all be long gone, there will only be 21 million BTC. There are billions of ounces of gold.

  • milmacrs

    I strongly believe this time the rising value of Bitcoin comes from the rising awareness of its unique properties and utility as both a decentralized currency and an efficient way to move and store value, invest and make payments

  • Brad Dufrene

    I think cryptocurrency is going to be the bank system of the future!! They have a brand new crypto out well it should be tradable this week called BitQy it will be the next hot thing with it’s Daily Deals app that is associated with it.

  • Dr. Bubó

    Yeah, I’m having an all day erection… .-)