The price of the hottest digital currency, Bitcoin, shocked the market anew as it recorded its highest settlement in history on Thursday, smashing the $15 000-barrier, just hours after it stepped across $14000, defying the waves of criticisms thrown by its critics.
On Thursday, Bitcoin added another milestone to its history book after closing 19% higher to close at $15 804, its highest close of all time. The popular cryptocurrency had even touched an intraday high 0f 16 568.92 on a 25% advancement but pared some gains at the close.
It looks like there is no stopping bitcoin in reaching record highs after record highs as it continued to shrug off major doubts from naysayers. Back in June, markets were speculating if Bitcoin can past the $10000-mark at the end of the year but with investors’ warm reception, it has reached a level no one has ever imagined.
Just in the past two days, Bitcoin prices posted a pair of strong performances as it breached the past the $14000 and $13 000 levels on Thursday and Wednesday respectively. For the year, the biggest cryptocurrency has amassed a total gain of 1550%, which sparked never-ending debate on Bitcoin whether it is a financial bubble or not.
Another interesting thing about Bitcoin is its total market capitalization is now bigger than the 488 of the 500 companies under Wall Street’s S&P 500. At current time, its $271 billion market cap has surpassed Home Depot’s.