Bitcoin hits $5,000, its highest price in four months

midian182

Posts: 7,166   +65
Staff member

Last year’s cryptocurrency crash had a profound effect on companies and individuals alike, hitting Nvidia particularly hard. The tech giant saw its share price plummet in the wake of the decline and was hit with lawsuits from investors who say it made false claims about the situation.

Back in December 2017, Bitcoin hit a record peak of just under $20,000. The high price started a cryptomining boom, which saw graphics cards become ridiculously expensive and difficult to find. Since then, however, the crypto has steadily fallen, hitting a low of around $3,200 in December 2018. It's remained mostly below $4000 since then but suddenly jumped in the last 24 hours.

Several exchanges have Bitcoin exceeding the $5000 mark—its highest level since November last year. It’s currently down slightly to $4,721, which is still welcome news for holders.

It’s not just Bitcoin that is experiencing a surge; Ether, Ripple, Litecoin, and other currencies have also seen jumps in the last few hours.

Exactly what has caused the upturn is unknown. Changpeng Zhao, CEO of popular crypto exchange Binance, says he is “clueless” as to why it is happening. We’ll just have to wait and see whether this is a temporary anomaly or if the cryptocurrency market really is starting to turn around.

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Vulcanproject

Posts: 1,407   +2,506
Call me a skeptic but much of the original value boost of Bitcoin in 2017 were linked to criminal manipulation. If there is no other obvious economic reason for the strong price rises then.....
 

QuantumPhysics

Posts: 5,296   +6,020
What a great way to celebrate April Fools Day!

Suckers are born every minute.

I remember when they were screaming how all those pathetic ALT coins were supposed to be $100,000 now.

TRON

RIPPLE

So many of them lost so much money. Just watched it evaporate.

1 week from today, I bet you Bitcoin will be under $5000.
 

VitalyT

Posts: 5,952   +6,211
I watch Bitcoin trade, and it never touched $5,000. The top price was registered at $4,841. I don't know where those news are coming from. As of this moment, it is trading at $4,687, and going down fast.
 

ShagnWagn

Posts: 1,297   +1,085
So, are looking into continued video card ripoff prices? I was hoping the industry might return to how it was before bitcoin screwed it all up. I wouldn't be so upset if bitcoin actually had any benefit to society or mankind. It serves ZERO value. :(
 

QuantumPhysics

Posts: 5,296   +6,020
I watch Bitcoin trade, and it never touched $5,000. The top price was registered at $4,841. I don't know where those news are coming from. As of this moment, it is trading at $4,687, and going down fast.


$4730 at 11:13AM

What people need to realize is that those who got into Bitcoin early hold Bitcoin up and it will probably never go to $0 because they will probably never sell.

The days of the rocket-like rise of bitcoin are OVER.

According to speculators, it was supposed to be $200,000 per coin by now.
 

TsVkK

Posts: 68   +37
I watch Bitcoin trade, and it never touched $5,000. The top price was registered at $4,841. I don't know where those news are coming from. As of this moment, it is trading at $4,687, and going down fast.


$4730 at 11:13AM

What people need to realize is that those who got into Bitcoin early hold Bitcoin up and it will probably never go to $0 because they will probably never sell.

The days of the rocket-like rise of bitcoin are OVER.

According to speculators, it was supposed to be $200,000 per coin by now.
Not to mention the massive amount of lost coins (>20% of existing tokens) that appear like a solid foundation, but are just immovable mud.
 

Squid Surprise

Posts: 4,283   +3,515
They're at $5021.05 USD as of April 2, 2019 10:30pm EST...

While Bitcoin itself might not be the future, crypto-currencies look like they WILL... $2000 was too low... $20,000 was too high.... they're still worth a LOT more than any other currency on Earth....
 

Kashim

Posts: 160   +148
I watch Bitcoin trade, and it never touched $5,000. The top price was registered at $4,841. I don't know where those news are coming from. As of this moment, it is trading at $4,687, and going down fast.
What people need to realize is that those who got into Bitcoin early hold Bitcoin up and it will probably never go to $0 because they will probably never sell.
Your reasoning is complete nonsense here. It might be a different story if Bitcoin was backed by something else (real currency, gold, etc.), but as it stands there's nothing preventing the value from dropping to 0 overnight. When you buy Bitcoin you're exchanging your real currency for a fictional asset. Sitting on this fictional asset indefinitely is supposed to prevent its value from dropping to 0 somehow? Bitcoin only has value because a group of people are willing to exchange real money for it. If that spending desire disappears so will the value of Bitcoin.
 

Squid Surprise

Posts: 4,283   +3,515
Your reasoning is complete nonsense here. It might be a different story if Bitcoin was backed by something else (real currency, gold, etc.), but as it stands there's nothing preventing the value from dropping to 0 overnight. When you buy Bitcoin you're exchanging your real currency for a fictional asset. Sitting on this fictional asset indefinitely is supposed to prevent its value from dropping to 0 somehow? Bitcoin only has value because a group of people are willing to exchange real money for it. If that spending desire disappears so will the value of Bitcoin.
Currencies all operate on belief... they haven’t been tied to gold in decades... As more and more people become “tech savvy” (but remain complete fools like the majority of the human race always has and will be), the belief in crypto-currencies will only grow - this making them worth more, not less.