At approximately 10:40 am EDT on the 26th of November this year, Bitcoin reached a new milestone after its price passed the $9,000 mark all across global exchanges. This marks the latest in the milestones it achieved this year.
Bitcoin crosses the $9K zone
With the digital currency breaching milestone after milestone this year, Bitcoin is the talk of the town these days, with 2017 earning its name as one of the digital currency’s most fruitful year, adding to the fact that it surpassed many expectations, and recovering after the Segwit2x fork cancellation. Rising over 700 percent in value this year, the digital coin first broke new ground back in January this year when it first passed $1,000. Come the 7th of October, its price is already more than $4,500, closely followed by the 12th of November when it rose to $5,850. As of writing, Bitcoin’s price is at its highest yet, with a value of over $9020 per token.
Milestone after milestone, Bitcoin shows no signs of stopping
With Bitcoin now on its ninth year, it’s not surprising to see that it’s being used now more than ever. With roughly 250,000 to 375,000 confirmed transactions on the daily, it’s safe to say that its value going up isn’t its only achievement this year. Moreover, only 4.3M out of the total 21M Bitcoin hasn’t been mined yet. And with 24 pools splitting the hashrate, Bitcoin mining is proving to be more profitable than ever. Among the biggest mining pools in the industry include Antpool, BTC.com, Slush, Viabtc, and BTC.top. Now with miners processing over 10 exahash per second, the hashrate itself is enormous. Furthermore, the hashrate exceeded 12.5 exahash back on the 24th of October, indicating that the digital currency also hit a few rough spots this year.
With every single publication and mainstream news channels worldwide mentioning Bitcoin at least once this year (and mostly in an optimistic manner), it’s clear that the masses are slowly turning their heads into the digital currency’s way. In addition, media experts have also been talking about the digital currency, the people using it, and its many highs this year.
Google trends: Bitcoin interest has risen exponentially
Aside from all of the media exposure and attention that the digital currency is experiencing, it seems that citizens worldwide are now hearing more about Bitcoin, as opposed to, say two years ago, when an average person wouldn’t have a clue that there is such a thing as a digital currency.
Furthermore, Bitcoin is also being used in large numbers in countries where capital controls are getting tighter, economies are crashing, and national currencies are going through a lot of hyperinflation. These nations include China, Zimbabwe, Venezuela, Mexico, and Japan. With the country legalizing Bitcoin for payments and transactions, Japan is indeed one of the world’s most bitcoin-friendly countries.
Are we reaching the Moon? Or are we even close?
As far as currencies are concerned, Bitcoin has already earned its place as one of its more serious candidates. And now with the digital currency passing the $9K mark, people are starting to wonder what comes what Bitcoin’s moon will be and how it will reach it. It’s still a long journey ahead, but safe to say that it has more supporters than it did before.