Does Bitcoin have a limit
Bitcoin is continuing to break expectations and exceeding all-time highs at a rapid pace. Since breaking $10,000 Bitcoin has been on a run, recently surpassing $17,000, with $18,000 in its sights. This bull market is starting to look like a bubble. There hasn’t been any sign that Bitcoin’s price is going to slow down. People may be expecting the price to go up ahead of the Bitcoin futures launch next week. Analysts are reminding people that this is similar to tulip bubble and that people will be shocked when the crash happens. Early Bitcoin investors and believers in the application of the blockchain say that Bitcoin’s current price is a bargain. Bitcoin is going to have an interesting next couple of days, as the market prepares for the launch of Bitcoin futures.
As Bitcoin continues to soar prices across exchanges are varied. The average price is currently $17,315.80 across all exchanges. But when looking at the different exchanges, prices vary, some by a few thousand. Presently on Bithumb, the price of one Bitcoin is $20,882.40, an exchange with 10% of $18,144,100,000, Bitcoins 24 hour volume. Kraken which has 1% of Bitcoin’s volume is trading one Bitcoin for $15,914.40. This is a price difference of $4,968 between exchanges that have at least 1% of Bitcoin’s volume. On the exchanges that have less than 1% of Bitcoin’s volume the difference between Bithumb is greater leading to greater price differences. As Bitcoin’s price continues to increase the prices disparities may increase so keep an eye on it.
Interest in cryptocurrency is rising rapidly as it continues to break barriers and make its way to the moon. Bitcoin may be entering the zone where it is valued correctly or be heading towards bubble territory. The beginning of a new world where cryptocurrencies are taken more seriously may be dawning.