It’s easy, from one angle, to see why. Bitcoin started out the year being worth $1,000. On Nov. 20, Bitcoin set a new record by passing the $8,000 mark. As per CoinDesk's Bitcoin Price Index (BPI), the cryptocurrency is trading at $17,539, having appreciated 4.48 percent in the last 24 hours to a new all-time high.
Bitcoin's maturity is also likely to push newer investors toward higher yields, and as expected, we have seen bitcoin itself losing its dominance over the last five years.For those who own large sums of bitcoin, there s an added complication services like Coinbase impose varying weekly buy and sell limits to protect accounts. But the limits which can be as low as $2,500, may make it hard to dump all your holdings at once.
Would-be investors are kicking themselves as they watch the price of Bitcoin continue to soar. But there’s a lot of conflicting information out there to digest. Market analysts say Bitcoin is a scary bubble that’s certain to burst.
Bitcoin still has strikingly little social capital. Few people know about it. Fewer still think it's beneficial or viable. Even fewer hold it, much less use it. 