Bitcoin just broke the $1700 range in the last 24 hours as prices currently stand at $1738 on the Poloniex exchange, a new all time high for Bitcoin itself. Signalling a new era for cryptocurrencies themselves, Bitcoin joins the likes of Ether, as discussed previously, showing considerable growth this year. Being Bitcoins most successful year since inception, prices ultimately jumped 70% since the beginning.
As seen above the prices have crept up steadily over the last 24 hours increasing to well over 2.76%. While the week started with prices settling at the $1560 mark, a huge jump of nearly 200$ has netted investors huge gains as many are selling with trading volumes well over $1 billion dollars over the past 24 hours. Predictions do suggest that the current price point is the result of a bubble as resistance is likely to push Bitcoin prices back down to $1723 which has much more support.
To conclude, smashing itâ€™s all time high within a matter of weeks the Bitcoin prices have pushed the boundaries once again reaching $1700 today. While this does signal the top of the current Bull Run for many, market correct will prevent a drastic drop in value as many analysts anticipate a drop to levels of $1650 – $1600 still falling within the normal range. A buy signal has been given for Bitcoin as prices are falling allowing you to purchase Bitcoin at reasonable prices as a long term trend remains bullish as prices increase. You too can purchase Bitcoin at market premium prices via the NairaEX exchange and have your Bitcoin delivered within a matter of hours!