Bitcoin, the grandfather of all digital assets has had one of the biggest years. From a $9,500 low at the beginning of the year, the cryptocurrency has increased more than 200% in value this year alone. Given the political and economic trouble, many countries have found themselves in this year, it makes sense that a currency that’s not being issued or regulated by any one country should be the winner.
Bitcoin and Black Friday discountsThe biggest story in the cryptocurrency world over the weekend was how it performed. During the Black Friday weekend, Bitcoin’s prices fell to $16,300, which was the lowest it had been for several weeks. However, in the days following, the digital currency jumped to $17,000, beginning the climb that has gotten to $19,000 as of December 4th.
An opportunity for investorsThis year has been one of the most favorable for cryptocurrency and blockchain technology as a whole. Although Bitcoin’s prices have steadily risen, it’s still volatile enough to make money for investors. This year, institutional money, hedge funds, and financial managers are all backing up the altcoin.
DevelopmentsMany analysts say that although we have seen a lot of movement in cryptocurrencies over the last couple of weeks, there is a long way to go. When Grayscale, Square, and PayPal decided to get in on the fun, prices shot up because of the renewed commitment it brought to the industry.
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