Breaking a previous all time high of just over $5,000 in September before falling back down in price, Bitcoin has surged on. With a current market cap of approximately $88 billion, Bitcoin now has a larger market capitalization than the GDPs of nearly three quarters of the world.
After the beginning of 2017, Bitcoin has had a daily trade volume of more than $100 million. This latest surge in price has occurred as fears of Chinese regulators blocking cryptocurrency exchange sites have dwindled.
Up over $1,000 since last month, Bitcoin has risen over 25% within the last 30 days. Although it may seem tempting to buy cryptocurrencies in hopes of massive returns, the risks are very high. Cryptocurrency markets can fall just as quickly as they rise making it difficult for novice investors to cash in on the frenzy.
There have been numerous peaks and valleys along the way for Bitcoin as well as other cryptocurrencies, not to forget problems with exchange websites either. Today also marks one month after JPMorgan Chase CEO Jamie Dimon declared that Bitcoin “is a fraud”, although interest in cryptocurrencies has not declined for any of the company’s clients.
To see the latest statistics on Bitcoin and other cryptocurrencies, CoinMarketCap tracks the top 100 coins.
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