As the Bitcoin price surpasses its all-time high the world has to brace for a new currency that has the potential of being a dominating currency. It may soon be challenging gold as the reserve investment of choice. The cryptocurrency is already trading at the same price ranges as the precious metal. The day they are inter-tradable seems to have arrived. On February 23, 2017 the headline was Bitcoin price surpasses all-time high. Each bit was valued at $1,168 on this day.
The last time the price went that high was during the bull run at the end of 2013. However due to the circumstances surrounding the increase in value it did not last. Actually the bullish trend quickly turned bearish. A lot of people lost money during this time.
This year’s Bull Run is powered by more solid substances instead of rumors about trading bots. The currency got a huge boost when demand rose after Trump’s victory. It seems that people are already viewing Bitcoins as a safe investment. More so in these uncertain times of Trump’s occupation of the White house.
Many Bitcoiners are celebrating the price rise on various social platforms and forums. However most of them are still holding on to their coins despite the heavy selling shown by technical indicators. This is because there is a chance that a Bitcoin Exchange Traded Fund (ETF) will be approved in March, 2017. The pending decision by SEC is helping sustain the price. Even new regulations imposed by China’s central bank failed to stop the price rise.
There is still plenty of room for the Bitcoin price to continue setting new all-time highs. The upward trend is still on the persisting. Some online casinos such as https://www.kiwicasinos.nz even give players bonuses for deposits using Bitcoins. As many countries continue regularize the use of the virtual currency it is only a matter of time before it is the trading currency of choice. Both online and at Land based establishments. Already there are several real money online gambling sites that use the virtual currency as their currency of choice.