Bitcoin rises over 3400$

After the busy first week of August when the bitcoin cash forked from the bitcoin, now we experience a drastic rise on the market value of bitcoin, which is  3412 $ at the moment of writing this post. With more then 16.4 million BTC in circulation the crypto-currency is more popular then ever. This caused a record breaking trading volume as most of the trading is done in China, Japan, Korea and India.

It is estimated that 3 to 5.8 million people are actively using their bitcoin wallets. The bitcoin economy is growing every day so celebrities, venture capitalist and big investors are getting interested in trading it because it offers a way of creating a big fortune quick and easy, much faster then investing in conventional startups.

On other hand the total supply of bitcoin is caped and the cost of producing bitcoins is constantly increasing. Many experts are skeptical about it because it is hard to determine the real value, which makes it’s future uncertain. Would the bitcoin bubble burst like the internet bubble in the nineties? Only time will tell.

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