Bitcoin Price The Bitcoin price is on the rise, as BTC sees investors flock toward the cryptocurrency due to concerns over more traditional markets’ volatility. The Bitcoin price now sits at $864.00 per BTC. (Source: “Bitcoin Surpasses US$14bn Market Cap For First Time Since 2013,” NewsBTC, December 22, 2016.)
What’s interesting is that other commodities that often surge in correlation with the Bitcoin price, like gold and other hedges against volatile markets, haven’t seen much of an uptake of late. Gold, for instance, has seen a steep decline since the election of Donald Trump as U.S. president, with the markets seemingly pointing toward a resurgent U.S. dollar. For now, it looks like the risk asset of choice for the market is Bitcoin. (Source: “Bitcoin is surging,” Business Insider, December 22, 2016.)
Beyond the market, investors would be well served to ensure that their Bitcoin hoard is secured from hackers, as all transactions involving BTC are irreversible, and this has cost some owners millions of dollars in the not-so-distant past.
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