Bitcoin is a juggernaut within the cryptocurrency world, and its reign on top shows no signs of ending.
At the time of writing, the value of bitcoin on Coindesk is $3,578.64 (and climbing). Prices were expected to start a downward trend back toward $3,000, but the way they are moving at the moment, this seems unlikely. In fact, some experts, including Peter Brandt, are predicting the price will “explode,” according to The CoinTelegraph.
Bitcoin has enjoyed a meteoric rise since the much dreaded “fork” that saw the cryptocurrency split into bitcoin and bitcoin cash. The latter currently sits at $330.05 (and may be exploding in its own right), while the former has enjoyed its strongest week of growth to date following the split.
According to Coindesk, “Bitcoin is up nearly 25% on the week since the split, rising from $2,871 seven days prior, while bitcoin cash, the new blockchain, has climbed just 17%, rising to $340 from $290 one week ago.”
Bitcoin recently celebrated a symbolic milestone by being worth nearly triple the price of gold, a longstanding stable commodity. The day is young and much can still happen to the price, but experts are enthusiastic, and data suggests the currency could end up floating around the $3,450 mark by the end of business today.
Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.