Bitcoin just $50 away from $2000 and doubling its price in just five months into 2017

8:42 AM $2000, asia, bitcoin, crypto currency, doubled, etherium, speculators No Comments

With Asian speculators in both Japan and China driving up the price of Bitcoin to all-time record highs, the crypto-currency is now on the cusp of doubling in just the first five months of 2017.

The current Bitcoin price is just over $1950 and could possibly hit $2000 by the end of Friday's market session.

Bitcoin traded for just over $1,000 on 1st January, but has edged up sharply amid increasing media exposure for its technology and those in the wider blockchain tech sector. Indeed, on at least two exchanges – Poloniex and Bitfinex – the price was even hovering just over $1,960. 

Year-over-year, the price of bitcoin is up 300%, having risen to $1,900, up from $453 on 18th May, 2016. At press time, bitcoin's market capitalization (the value of all bitcoins in existence) was $31bn. - Coindesk

Bitcoin's meteoric rise has also helped increase the price and market cap of nearly all other crypto-currencies, such as with Etherium which has risen 1700% also since the beginning of the year.