Sudden Surge Causes Bitcoin Value to Rise Above $16,000

An unexpected surge has caused the bitcoin value to skyrocket to above the $16,000 mark. Much of this has come as the bitcoin has become an exceptionally popular investment for trading on a few new platforms.

During the morning of December 6, the bitcoin had a value of around $13,000. But a sudden increase in the trading volume has caused the value of the currency to go up exponentially. The currency moved beyond the $15,000 mark on the morning of December 7 and had gotten past the $16,000 mark before the noon EST hour.

The currency went from $15,500 to around $16,500 in a span of a little less than two hours during the morning of December 7.

This surge comes not long after a recent drop in the value of the bitcoin. The currency had declined by about 20 percent in value last week at one point.

The rise in the value of the bitcoin has produced quite a surprise. It experienced a rise of about 25 percent within a 24-hour period, thus excelling well outside of the drop that it had in the prior week.

New Trading Options

New platforms have been coming about to make it easier for people to trade the bitcoin. These are believed to be major factors in what is causing the bitcoin to rise in value.

bitFlyer has been growing in size since it was launched out of Tokyo but it is growing even further thanks to its latest expansion. The firm has grown to where it is now operational in the United States. It recently received a license to operate out of New York. This allows the largest digital currency exchange in the world based on trading volume to become more accessible to investors.

Cboe Global Markets will be releasing its bitcoin futures this coming Sunday. CME will also offer bitcoin futures a week later. These are two of the largest commodity trading markets, thus making the bitcoin a more viable investment for many uses around the world.

Additional Statistics

The market cap of the bitcoin is currently listed at around $265 billion. This comes with about $16 billion in trading volume within a 24-hour period of time on average with that number continuing to grow as news about the rise in its value continues to spread.

The current market value of the bitcoin makes it to where it would be among the top twenty stocks on the S&P 500 if it were included in that listing. This makes for an even more impressive story when it is considered that the currently was listed at around $1,000 at the start of the year.

The general growth of the bitcoin shows that this is a viable investment that is continuing to grow in value and is expected to become an even bigger deal as time moves along.

Investors will be looking in the future to see how well the value of the bitcoin grows and if it can continue to be a popular investment option for all to use, especially as more trading options come around and become viable to the public.

 

Advertisement

Click To Join Our Community Telegram Group