Bitcoin price is its continuous form of a surge, making new high records in the cryptocurrency markets. Yesterday the price of bitcoin soared above $3,500 according to the CoinDesk Bitcoin Price Index.
The bitcoin price came out to be a huge surprise for its investors and traders. Since the start of the year, it has climbed 250%. The price of bitcoin was below $1,000 on the first day of the year 2017, now it reached $3,525.
Not only this but the rise in bitcoin price gave a wider aspect to cryptocurrency market due to which all the traded cryptographic assets rose above $120 billion for the first time ever.
As per the data from CoinMarketCap the bitcoin market cap rose above $56 billion.
Since the bitcoin blockchain network adopted a new software, the Segregated Witness (SegWit) on Tuesday the price slightly came down. This could be a temporary pullback. The price of bitcoin will be back in the race.
SegWit would be the essential part of the growth of bitcoin in future. “At long last, the solution touted to solve Bitcoin’s scaling problems, Segwit, is activated, With Segwit implemented, I believe $5,000 Bitcoin is within striking distance” as Arthur Hayes told Business Insider.