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Bitcoin hits milestone of $1,000 as 2017 begins

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Market Watch
January 2, 2017

As 2017 kicked off, and with the bulk of other global markets closed, Bitcoin took the stage, hitting a fresh milestone atop $1,000. 

A single Bitcoin US:BTCUSD  was trading at $1,013 early Monday, according to pricing data from Coin Market Cap. Other big exchanges such as Bitfinex, Kraken and Coinbsae showed the cryptocurrency topped $1,000 late Sunday, according to a report from Bitcoin.com.

The fresh high for Bitcoin, now trading at levels not seen since November 2013, has also pushed market capitalization records above $16 billion. The digital currency rose more than 100% in 2016, and some expect the price could reach as much as $3,000 in 2017.

The cryptocurrency looked set to reach $1,000 in the waning days of 2016, after taking out a key level above $800 in early December. MarketWatch’s Joseph Adinolfi has noted that analysts have attributed a range of factors to bitcoin’s strength, including increased adoption by professional investors and fears of instability surrounding the world’s biggest economies.

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This article was posted: Monday, January 2, 2017 at 6:53 am

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