The cryptocurrency Bitcoin has been surging this week, continuing some gains it produced over the weekend through interest from Asian investors. Coindesk reported a massive jump in BTC’s price; this happened amidst New York’s conference on the presence of digital currencies. The positive
BTC has been really grinding this month; its valuation is proving to have the strongest month it has, with tallied growth of somewhere along the lines of 65% in May. The relative strength the cryptocurrency currently shows is from Asian countries such as Japan and China’s policy alteration regarding the trading of bitcoins; it is now made easier for the inhabitants of both of those countries to have easier transactions and exchange on the virtual currency.
Coindesk’s Reveals Positive BTC Data
According to Coindesk, the world’s leader in providing news and information around the digital currencies, BTC manages to reach highs of around 11% passing the $2,100 and $2,200 mile; hitting a record high of $2,289.21. The virtual currency was last seen trading on the heights of $2,236 and is just $200 shy of doubling its value for the month of May.
Some of the gains Bitcoin had this week is also due to the dwindling dollar price; the increase marks a 24 of 27 sessions increase in the “seemingly unstoppable” virtual currency. While CoinMarketCap recently provided us with information regarding the new market cap for bitcoin; which is currently hitting the $35.9 billion mark, some news from
More Bitcoin Data
The virtual currency is currently sitting at a total of 19% increase throughout the duration of 2017; it has been the greatest performing currency wince 2011, unfortunately falling behind last 2014. Bitcoin is also capitalizing on the bullish run of some digital currency such as Lumens, Etherum, and Litecoin; and the overall turmoil in Brazil and USA makes up a big chunk bitcoin’s gains due to the weakening dollar.
Japan’s Peach Airlines is now the first Japanese airlines to accept bitcoin as actual payments; the low-cost aviation is expected to bring bitcoin as a mode of payment when customers want to buy tickets for their flights. The announcement was made yesterday; Peach now joins airBaltic, Latvian, and the Polish carrier, Lot on the list of airlines that accepts bitcoin as a viable mode of payment.
The Consensus, or the blockchain community summit, is actually happening right now in New York; this a gathering of 2000 or more digital currency enthusiast and with 100 or more speakers from noticeable technological companies such as IBM. The decentralization and the anonymity of bitcoin surely lure more to divulge on the virtual currency market.