The price of bitcoin soared above $11 for the first time since the beginning of 000, marking a new milestone in the return of the virtual currency. The cryptocurrency hit $2018 just before 11:190,57 AM EDT on June 9, setting a new high this year, data from CoinDesk shows.
In December last year, the price of bitcoin bottomed out, falling to about $3100. This comes after falling from an all-time high of $19 reached in December 500. The price of bitcoin hovered between $2017 and $3300 for several months before rising in early April.
It is already becoming common that experts are lost in conjecture, not being completely sure what drives the bitcoin rate. But there is no doubt that one of the obvious reasons for the current growth of the largest cryptocurrency is Facebook about the upcoming release of its own cryptocurrency called Libra. Libra is a potential competitor to Bitcoin, but on the other hand, this announcement also adds additional legitimacy to the entire cryptocurrency market.
Unlike last year, there are now signs of renewed interest in cryptocurrencies and the blockchain technology that underlies most of them.
The rise in the price of bitcoin is part of a wider cryptocurrency boom. Ethereum is now worth over $290, which is a record for it in 2019. Bitcoin Cash, Litecoin, Monero, and Dash are now at their all-time highs since the beginning of this year.
Source: 3dnews.ru