The party is far from over
On August 12th, less than two weeks after the fork, Bitcoin has hit its latest milestone. The price rose above $4,000, once again setting an All-Time High.
According to Coindesk, the world’s most popular cryptocurrency has reached $4,000.93 during today’s session. At press time, the price has slightly fallen back to $3,912.18.
Since the beginning of this year, Bitcoin has tripled its value, skyrocketing from below $1,000 through key levels of $2,000, $3,000 up to impressive $4,000.
Rewards for the believer
Over the last few months, Bitcoin has been receiving a lot of media coverage. Everywhere we could see stories about unknown Bitcoin millionaires and crazy big returns of lucky early investors. Such news get us thinking about what could’ve happened if we bought Bitcoin early enough.
Latest events give Bitcoin Believers even more reasons to promote their case. Those who didn’t panic and stayed loyal to Bitcoin through the scaling debates and the fork are now getting rewarded with amazingly high and consistently increasing returns.
Even more bubble concerns
Of course, such meteoric price gain couldn’t go unnoticed by the skeptics. Some of them assume that Bitcoin in particular may have reached bubble territory.
The experts provide different and often controversial opinions regarding the subject, ranging from optimistic to completely skeptical. Only time will tell what Bitcoin prices are going to be doing next. Will Bitcoin continue its trip “to the moon”, or just burst and prove to be a bubble? Whether you are an investor or a regular user, it’s always beneficial to keep in mind that there’s several potential scenarios for Bitcoin future.
Another upward run?
So far, the recent break over $4,000 can be seen as a highly bullish sign. Bitcoin has survived the fork, which helped the market to gain a certain level of confidence.
The price increase is likely driven by SegWit finally locking in, meaning the post-fork grace period is over and the technology is actually added to the network.
The lock-in indicates support and adoption of SegWit by the community, becoming a turning point in blockchain development. It also shows that Bitcoin is far from getting outdated. The digital currency is willing to change as the world does. And, while these changes aren’t always radical and fast, they allow us to say that Bitcoin is here to stay.