Bitcoin has officially breached the $1300 level peaking at $1337 a considerable level higher than the previous all time high of $1227 which was experienced back in 2013.
Recounting the Last All Time High
Recalling the last time Bitcoin reached these figures. It was December 2013 and bitcoin was still in early stages of adoption. Having a particularly small user base no one could have predicted pricesâ€™ hitting just over $1277 for a couple minutes, many were astonished at how far the cryptocoins came from its origins when it may as well have been worthless. However, this was almost immediately shadowed by the movements of bots like willy particularly seen performing suspicious trades before and after the peak, followed by the demise of the MtGox exchange, it was clear, putting 1 and 1 together, many knew how the prices had artificially been inflated for the exchange to cash in. However, this time around, with several exchanges sharing the market share, the recent high of $1337 has been cemented as the new all-time high!
TO conclude, bitcoin has officially broken past the barrier and further cemented its position as the biggest cryptocoins venture of all time! While there may be some cause of concern relating to the Chinese markets which are currently trading at the $1100 mark, Japanese and US markets have provided more than enough volume to sustain the current price points as they make up just over 40% of the total trading volume. Localbitcoins has also experienced a huge increase in number of trades performed, as many Chinese users look for alternatives to protect their identities as the governments recently enforced KYC and AML guidelines have forced many exchanges to force stricter identification checks.