Bitcoin rises past $8000 for the first time in 2019

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Bitcoin rises past $8000 for the first time in 2019

Fluctuating cryptocurrency Bitcoin has topped the $8,000 mark once again, making it one of the surprise best performing investments for this year, so far. 

After an initial stellar boom and bust that saw a collapse from the value of a Bitcoin being worth almost $20,000 in December 2017, to as low as $3,169 in 2018.

The controversial cryptocurrency has been settling between $3,500 and $4,000 until the start of April 2019, until this latest surge has seen the investment more than double, gaining more than $4,000 in just a few weeks.

"As the marketplace for new high-technology businesses continues to grow, there is now an increasing demand from investors who want to be able to trade on these businesses internationally, utilising the full benefits of this technology" - Ana Bencic, founder and director of NextHash

At time of going to press Bitcoin was trading at $8,183, with a high of $8,883 passed earlier in the week. In comparison, the second best performing 'asset' in 2019 is US oil, up 38.35%; the NASDAQ 100, has also risen 22.5% and Standard & Poor's 500 has increased by 16.54%.

Gold, often considered a haven for investors in volatile markets, is down 0.12%. Other cryptocurrncies, Ripple XRP and ethereum are also showing well.

Revolution

Ana Bencic, founder and director of NextHash, believes that the integration of blockchain into the investment arena will "revolutionise" the global economy with retail and institutional investors beginning to see an opportunity to capitalise on this growth.

'The cryptocurrency market has flourished in 2019 with more sectors investing in blockchain technology to revolutionise their own arenas," she said. 

"Cryptocurrency trading spearheaded the rise of this technology and now, it is being applied in other ways by highly-scalable, high-growth companies. As the marketplace for new high-technology businesses continues to grow, there is now an increasing demand from investors who want to be able to trade on these businesses internationally, utilising the full benefits of this technology." 

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