Bitcoin Still Setting records Every Week
By Bob Garcia
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Bitcoin continues to break its own records on an almost daily basis.
The steady ascent of the father of the cryptocurrencies began in earnest with news of the fork between Bitcoin and Bitcoin Cash,
but even with that well in the rear view mirror, nothing seems to be slowing Bitcoin down.
The all-time high of $4,747.15 was broken Thursday.
2017 has been a fantastic year for Bitcoin. It started the new year at just below one thousand dollars. It has now become aware to anyone watching that cryptocurrencies, and Bitcoin, in particular, are becoming investment bubbles that dwarf the housing or dot com bubbles.
Over time Bitcoin always tracks upwards, but that doesn’t mean the digital dollars don’t go through sudden and volatile losses: they do. It’s just that Bitcoin always comes back.
Bitcoin’s closest rival, Ethereum, sits at $382.21.
New players, like the Chinese state sponsored, Neo, have also been doing very well, but nothing seems to match the sheer upward movement of Bitcoin.
It’s not entirely clear to anybody why Bitcoin keeps rising, but fans and early adopters are certainly not complaining,
with many citing the freedom and ease with which cryptocurrencies can be acquired as one of their main attractions,
and the safe haven reputation they have acquired alongside gold and silver.