Bitcoin Value Reaches $14000

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Bitcoin's recent price Just before a Coindesk article went to press the price of bitcoin peaked at an astonishing $12,798 well on its way to another thousand dollar leap from $12,000 to $13,000. The cryptocurrency rival offers a separate solution to bitcoin's congestion issue. Today, it has appreciated by the same amount in less than 24 hours.

"Bitcoin is on its eighth straight day of advance, crossing the level of $15,000 with trading volume hitting in excess of $13bn on Thursday". Just one year ago one bitcoin was worth $764. The cryptocurrency gained more than 1,370% since the current year started. Its market cap is now at $219.6 billion.

Bitcoin chart
Bitcoin Value Reaches $14000

On Wednesday, Bitcoin exchange rate rose by 10.5% to $13,081 for the first time. Concerns about bitcoin mining's huge energy consumption There are growing concerns, especially among some environmentalists, of the huge energy consumption of bitcoin mining.

Bitcoin, the world's biggest and best-known cryptocurrency, has seen a more than fifteenfold surge in its value since the start of the year.

Yet many elements of the financial world have embraced the new crypto asset class: Major exchanges like the CME and CBOE have helped legitimize the currency's investment credentials by saying they plan to introduce futures contracts to their respective exchanges.

A new report has revealed a huge majority of United Kingdom institutional investors think bitcoin represents an unsustainable bubble.

Bitcoin is a decentralized system based on blockchain technology, which any user - participant of the system can emit, creating new blocks of the system with the help of a computing device.

Bitcoin's value is also said to have been boosted by the emergence of the Lightning Labs - a solution-provider that can make Bitcoin payments viable.

The research said 82 per cent of Britain's institutional investors - pension funds, insurance companies and endowments - believe that bitcoin is a bubble ready to pop. Volatility appears likely to continue for a while. The digital currency is now rapidly approaching the $15,000 mark as inventors' demand soared ahead of the official launch of Bitcoin futures from multiple exchanges in the United States.