Published on May 25th, 2017 | by bitcoin0
How Bitcoin has climbed to near $3,000 – an All-Time High
Bitcoin established its new all-time high for the third time this week, at $2,700, closing in on the $3,000 region.
Bitcoin price increased by around 15 percent in the past 24 hours, surging from $2,327 to $2,700.
Although analysts attributed last week’s Bitcoin price surge to the economic and political uncertainty of the US, which operates the largest Bitcoin exchange market with a 34.2 percent market share and $450 mln daily trading volume, this week’s strong rally and momentum of Bitcoin price is likely the result of a general increase in global adoption, progress in Bitcoin scaling and extensive coverage of Bitcoin from mainstream media.
The demand toward Bitcoin is rising exponentially in major markets outside of the US, including China, South Korea and Japan.
Gox fiasco, when Bitcoin price reached $1,300 and demand toward Bitcoin skyrocketed.