Our Crypto of the week is Bitcoin.
This week has seen Bitcoin’s price increase by over 20%, hitting an all time high for the leader of the Cryptocurrency world.
Bitcoin began the week priced at around $4550 and ended the week at around $5477 – an increase of almost $1,000 per coin! Now tell me which Bank offers you that kind of interest per year, let alone in one week!
Despite comments from JP Morgan’s Jamie Dimon stating that governments will ‘crush’ Bitcoin and China’s recent crackdown, it appears that Bitcoin is here to stay (at least for the meantime) and continues to stun the world. It is hard to imagine that this time last year Bitcoin was priced at just over $600 per coin.
Many are predicting that the price will continue and could reach $10,000 by the end of the year! If you are thinking about investing in Bitcoin or any other Crypto please keep in mind that it is a highly volatile market and although we have seen massive gains recently in many coins we could also see massive drops too.
Please see our previous post on Bitcoin for further news here.
Coin to keep an eye on for coming week:
Our coin to keep an eye on for the coming week is Ripple’s XRP. As previously stated the ‘Swell’ conference is due to commence on 16th October.
We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.