The digital money or currency that people never used for the purpose reached at an extremely high value of $14bn yesterday – the web based digital currency.
The bitcoin is the web-based currency and reached at the price of single coin at $875 (€837) – it is the extreme, highest and the record rate of the coin since the January 2014, due to its rapidly daily performance in past six months.
The web-based or the digital currency jumped 5 percent to its highest level in the last three years and almost doubling the price of the single bitcoin this year – the price of the coin reached high on the Europe-based Bitstamp exchange.
The value of the coin is increased since 2014 but one thing to remember is that it is not the highest price as the single bitcoin reached at the price of $1165 in 2013 also but the milestone of reaching highest rate is achieved by the currency.
The new measure and the expensive rate of the bitcoin are referred as the market capitalization and the crypto traders are happy with the new price – the data of the bitcoin shows that most of the crypto trading was done with one of the population country China.
BitCoin: Actually, the bitcoin is simply a web based currency not a kind of physical assets and it is formed as the cryptography – the currency that doesn’t rely on the single central authorities.
The important is that it is popular among the people especially for the people of the China due to easy movement in the whole world and it is what that interacting the people towards it and especially the people where they face a lot of restrictions for the physical assets.
The bitcoin market is rapidly growing as the new report tell that at the previous high record in 2013, there were 12 million bitcoins in circulation but in the current year 2016, the number of coins is grown to more than 16 million coins.
The supply of the coins is growing fast due to the proper management and the way the coin is programmed and the rate of increasing the coin is 12.5 with every 10 minutes – it means that 1700 new coins were added every day.
The CEO of the analysis of the crypto trading, Charles Hayter added that if the increment of the bitcoin is grown then it change the trend of the world and it may be sense as a thematic play.