Bitcoin Surpasses the $4,000 Limit

Bitcoin Surpasses the $4,000 Limit

The price of bitcoin reached a new record high, continuing the rise of the weekend thanks to the strong demands in Japan.

The price reached $4,330.71, exceeding a record $4,225.40, marked on Sunday, according to data from the specialized site CoinDesk.

Only last week, the market capitalization increased by more than 15 billion dollars.

Since the beginning of the year, this crypto-currency has risen by more than 320 percent.

CNBC explains the rise of bitcoin with four main factors.

One of them is high demand in Japan.

The Japanese yen accounts for more than 42% of the purchase of bitcoin, estimated from the Crypto Compare site.

Regions in the Empire of the Rising Sun orient themselves positively towards this crypto-currency.

Earlier this year, Japan accepted the bitcoin as a legal tender, after major trading chains supported the move.

Chain stores Marui, for example, test payments with bitcoins in one of its facilities.

Another factor for increase in the price is the resolution of the issue of upgrading the crypto-currency network.

An agreement was reached to increase the amount of transactions that can be made through blockade technology behind the functioning of bitcoin.

In addition, institutional investors have reversed the interest of regulators towards the currency.

There is also an impression that in the last few years bitcoin gets support in geopolitical tensions.

According to some experts, part of the rise in the currency is due to the exchange of threats between the US and North Korea over the last couple of days.

The Gentleman

A young, enthusiastic man with a passion for fashion, healthy lifestyle and a constant need for improving myself. Having enjoyed ( and still enjoying ) the benefits of my current lifestyle, I am dedicating my time providing short, insightful posts and tips on how to become a better man.