BitCoin passes $4,000 – On its way to $10,000?
If you had invested $250 in Bitcoins on April 11th, 2011, you would have received 260.417 Bitcoins. As of today (August 13, 2017) these 260 coins would be worth more than $1 million. Most of the value increase stems from the quadrupling of the currency since the beginning of the year. The hike is fueled by an ever-increasing number of Initial Coin Offerings with companies (or mostly: ‘projects’) raising more than $100 million often in a matter of hours.
Even as US regulators issued strong statements as to the legality of (unregistered) ICOs, there have been no signs of the frenzy slowing down and 25 percent of the recent Bitcoin trades are still being attributed to the United States (although origins could be manipulated, and certainly are being obfuscated to some degree). Apparently most Bitcoin buys were made with Japanese Yen accounted for nearly 46 percent of global trade volume.
With most consumers still sitting on the sidelines of cryptocurrency trading, it can be expected that another high is still to come.
