The incredible surge in cryptocurrency prices recently is well-documented, and Bitcoin’s latest surge has taken it to a new all-time high. While Bitcoin and other types of cryptocurrencies are highly volatile, Bitcoin has seen a price increase of more than 12 percent within the last seven days.
During the morning of Sunday, November 26, the Bitcoin price passed the $9,000 mark. In fact, it spent a decent amount of time above the price of $9,400. Notably, Etherium, Litecoin and other altcoins have seen huge price increases recently.
There are many reasons why an increasing number of people around the world have chosen to purchase Bitcoin recently. Initially, Bitcoin was seen as a type of financial or currency experiment that mostly tech-savvy people invested in. It received an initial surge of interest from doomsday preppers who were not confident in government-issued currency after the economic collapse in 2008. A significant amount of interest in Bitcoin today is speculative, but many people are also interested in cryptocurrencies because of a belief that the economic climate is ripe for change.
Source/More: Bitcoin’s Latest Surge | Analyst of Finance