Bitcoins trading prices have been sitting around $4,000 for more than a week, flying high in spite of the currency’s potential pitfalls.
The cryptocurrency’s price has risen more than 300% this, and despite suffering some recent volatility, Bitcoin has managed to retain the overwhelming majority of these massive gains, according to CoinDesk.
Since it broke through $4,000 on August 12th, Bitcoin’s trading price has mostly been above this key psychological pegging, reaching fresh, all-time highs and perhaps fanning the flames for those who believe that a bubble may be in the works.
Bitcoin’s price has skyrocketed this year as cryptocurrencies continue to attract robust inflows from positive investors.
The total market value of these digital assets has surged more than 500% this year, according to info from CoinMarketCap, demonstrating the substantial enthusiasm surrounding the cryptocurrency.
Bitcoin has managed to ride this wave of interested investors, always climbing in value even as the cryptocurrency faces notable uncertainty ahead of a fork scheduled to take place in November.