The price of Bitcoin surged by US$1000 on November 29 hitting a high-point of US$11,150. The US Federal Reserve and the Bank of England, seeking to calm fears that the digital currency might destabilize the global financial system said it is too small to have such an effect but warned investors to “do their homework” if they plan to invest.
As well as being known for its profitability, the Bitcoin has shown itself to be extremely volatile. On the same day as hitting its new high, Bitcoin fell back down to US$10,500.
The online currency has witnessed an incredible 1000 percent increase in value since the beginning of 2017 when it was worth US$1,000.
It’s previous high was reached in 2013 at US$1,023.
How high do you think the price of Bitcoin can get?