From $600 up to $2800: how the Bitcoin price went up

From $600 up to $2800: how the Bitcoin price went up

In June 2016, the Bitcoin price was about to start a long march to its all-time-high price. After less than two years of price stagnation everything changed.

More and more people are looking at Bitcoin, discovering Blockchain technology related use cases and this just put a high pressure on the cryptocurrency ecosystem as a whole. Bitcoin is not alone and many interesting old and new projects are trying to tackle the Bitcoin dominance. 

Despite of (or maybe because) having reached such a high value, Bitcoin is undergoing a lot of conflicts which are mostly related to its own governance and how the protocol should be adjusted. Many new Bitcoin Improvement Proposals (so-called BIPs) are being explored to advance Bitcoin as it is now. Conflicting interests are what is preventing a broad consensus on how to scale the Bitcoin protocol for good.

Nevertheless, an increasing number of investors are heading to Bitcoin and other crypto projects such as Ethereum and Litecoin to have a stake into this new economy. These are the main reasons why the cryptocurrency global market capitalization crossed the $100 Billion lately.

This is only the beginning of what it seems the new era which could be remembered as the Internet of Money.

Image via Forbes.com
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