Cryptocurrency

Bitcoin finally blew past $6,000

TechJuice Written by TechJuice · 47 sec read>
Bitcoin

Bitcoin value has finally exceeded the limit of $6,000. At the time of writing this, it is being traded at $6,037.

Bitcoin for a long time stayed at a value of 4000ish due to market news and different governmental decision in different economies. For example, in China, cryptocurrency exchanges were asked to shut down until and unless government introduced some regulations for Initial Coin Offerings and trading of Bitcoins and Altcoins.

See also: The Indian Government is considering launching Lakshmi, its answer to Bitcoin

There has been an ongoing debate on regulations on Bitcoins and ICOs. Amidst all this, Bitcoin has quietly crossed the $6,000 threshold for the first time, setting a new record.

After an episode of negative press, we are also hearing positive and encouraging news from tech leaders and investors. A former manager at $72 billion investor Fortress, Michael Novogratz, thinks that the value of Bitcoin will reach $10,000 in the next few months. Tech Billionaire Mark Cuban has said that he has investments in cryptocurrency and believes that blockchain is valuable and is the real future.

If the Bitcoin value continues to rise with the same pace, it will not be too long when it will be standing close to crossing the $10,000 mark.

In other news, Russia and Dubai both are launching their own cryptocurrencies keeping the underlying blockchain concept intact.

Written by TechJuice
Pakistan's premier website covering everything about Technology, Startups and Entrepreneurship! Email: editors@techjuice.pk. Profile