Highest Bitcoin Value - Bitcoin Breaks $1,000 Threshold
The highest bitcoin value was recorded last November 2013 when it crossed the $1,000 mark. Read and find out more details about this noteworthy event.
Bitcoin’s value has been on a roller coaster ride since it was introduced four years ago. It started from almost nothing until it quickly gained popularity, causing its value to go up north. In December 2012, bitcoin’s worth is only $13 and after only a few months, the majority was stunned when it hits the top of a price rally in April 11, 2013 reaching $266. It only lasted for a while, though, as it slowly dropped to $70. However, last November 2013, this digital currency created a sudden bang once again when it crossed the $1000 threshold hitting a peak of more than $1, 200 – the highest bitcoin value ever.
Due to this remarkable event in bitcoin value history, this cryptocurrency has been considered one of the world’s most valued currencies. In early October, bitcoin only worth $145 until it surge to $296 and in just more than a month, it made a groundbreaking record when it peaks over $1000 per coin giving it a total market capitalization above $12.1.
There are numerous reasons stated for this highest bitcoin value record. The first and is said to be the biggest driver for this price rise is the giant institutional markets that entered the market. In addition, it has been noted that this event might be interconnected with BTC China coming online. On the other hand, the positive media coverage for bitcoins is said to contribute great for the rising demand for this virtual money.
After this spectacular rise, Bitcoin’s worth has been unstable, causing it to crash again to the $500 range and the price fall was followed by the shutdown of Mt.Gox last February. However, as of the moment, bitcoin recovered to the range of $450 - $700.
Bitcoin is still making its way to the top. While more and more people are interested to know about this digital currency, the demand for it will continue to grow and it’s definitely possible that it will cross another threshold in the near future.