Bitcoin’s Price Crosses $4,000
Mon Aug 14 2017
Jim Andrews (456 articles)

Bitcoin’s Price Crosses $4,000

Bitcoin (BTC) has achieved a crucial milestone, crossing the $ 4,000 mark over the weekend. Bitcoin began 2017 at a price of around $ 963 and has risen by more than 300% year-to-date.

The clarity emerging post August 1, 2017 and the rising importance of Bitcoin as a safe haven in the face of geopolitical tensions (such as the threats exchanged by North Korea and the U.S.) are being considered as primary reasons behind this current surge. Bitcoin proved its resilience during the time of heated debate about its block size upgrade. The currency has been hovering above $ 2,600-$ 2,700 levels during the final week before the split and didn’t budge much even when the legendary blockchain split into two—Bitcoin (BTC) and Bitcoin Cash (BCH). (See

Analyzing Bitcoin volume by currency reveals that 47% is being accounted for by the Japanese Yen (JPY), followed by the U.S. Dollar (USD), South Korea Won (KRW) and Chinese Yuan Renminbi (CNY) at around 21%, 15% and 12%, respectively (rounded off to the nearest ten).

Jim Andrews

Jim Andrews

Jim Andrews is Desk Correspondent for Global Stock, Currencies, Commodities & Bonds Market . He has been reporting about Global Markets for last 5+ years. He is based in New York

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