Bitcoin Price Reaches 14000 USD Smashing Every Record

The BTC price has set a new milestone, reaching an all time high on December 6. The price reached an all time high of $14,047 across the worldwide exchanges at around 20:00 EDT on December 6 after which it quickly settled down to $13,500. As a matter of fact, the BTC price had already surpassed the $13000 mark earlier that day. After that, the cryptocurrency showed a 20% incline taking its price beyond $14000 for the first time ever.

With this, the Bitcoin has reached a whopping market cap of $235 Bn which is comparable with the tech giants like Amazon and Google. The decentralized currency has also experienced a major upturn in trade volume which has gone past $13 bn.

 

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Why Bitcoin Price Is Rising?

One of the main reasons for the drastic upsurge in BTC price is the South Korean markets that are pushing the trade volume to extreme levels. A Korean exchange, Bithumb has acquired top position in the global market. Add to it, the other Korean exchanges like Bitfinex, Bittrex, Binance and GDAX. Also when it comes to fiat currencies, the Korean Won is dominating over the Japanese Yen in the worldwide Bitcoin market.

Although the price didn’t stay beyond this point for quite long and readily declined below $13,500. But it has a great upthrust potential and could go beyond $15000 in the coming days. At the time of writing, the BTC price is looming around $13,900 and is tend to go upwards.

If we have a look at the recent demographics, the BTC price has showed a massive jump of over $2000 in one day, taking the price from $12k to $14k. This growth is exemplary in every way and it has set a new milestone in the field of decentralized remittances. Seeing the current demographics, the BTC price is expected to rise even higher and it may go beyond $20,000 in the coming weeks.