Bitcoin has doubled its value in 25 days

Bitcoin reached an all-time high of over £2,700 on 25 May, according to data from CoinDesk[1]. Bitcoin reached a high of £2,776 today – which is twice what it was priced at on 30 April, £1,347. CNBC[2] reported that Bitcoin is in the middle of a “price frenzy”, and that there will be a correction.

“It’s unclear if that correction will start from current prices of £2,700, or from some place much higher,” stated the report.

Bitcoin’s price surge has been attributed to multiple factors, including the recent adoption of the cryptocurrency by Japan as a legal payment method.

Bitcoin

Now read: How much the top cryptocurrencies have gone up in 2017[3]

References

  1. ^ CoinDesk (www.coindesk.com)
  2. ^ CNBC (www.cnbc.com)
  3. ^ How much the top cryptocurrencies have gone up in 2017 (mybroadband.co.za)

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