What is causing the bitcoin surge
capitalization in order to be diversified, marking the first time in 20 years he's put money into his own recommendations. 11.9k, online, a community dedicated to Bitcoin, the currency of the Internet. The report also pointed to increased attention from Google users. Higher prices add value to the digital currency system.
He wasn't too concerned about the rapid rise in bitcoin's price. "More traditional places are starting to see. At that time, there was a lot of exuberance around what was possible Roberts said.
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Less than a week later, Switzerland's financial market regulator authorized the first Swiss bank to manage bitcoin for clients, while the.S. "I feel like right now the price is going up so much more, and more people are getting exposed to it CoinDesk research analyst Alex Sunnarborg said at a Token Summit panel. Selling out of those currencies also then results in more bitcoin purchases. "But a lot of the utility, those possibilities, hadn't been realized yet. To be sure, new technology almost always takes longer than expected to gain traction, and if bitcoin sees some rockiness after the latest surge it could take some time to recover. Bitcoin itself plunged in 2013, before recovering and skyrocketing to records above 2,700 this year. Bitcoin ( source: CoinDesk. Ethereum is a younger digital currency than bitcoin that many expect can create a network to transform the internet, as the price of ethereum has exploded more than 2,000 times higher this year, far outpacing bitcoin.
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