Bitcoin price has broken yet another price record, this time surpassing the $1,900 mark and dipping its toes in the mainstream market audience. Could this be a pivotal moment for cryptocurrencies?
Bitcoin Price in All-Time High Territory, Again
Bitcoin has once more broken its previous all-time high record today. Currently sitting at $1,925, over $168 Million were exchanged in the last 24 hours in the BTC/USD markets. The rally comes following the mild setback caused by the WanaCry Ransomware situation last week.
As traditional markets plummet, reaching the biggest U.S. market selloff of the year on Wednesday, Bitcoin positions itself as a safe haven asset and a hedge against general political and economical uncertainty, attracting concerned investors that are looking to diversify their portfolio.
The continuous Bitcoin rally is also connected to the new permissive stance taken by regulators throughout the world. In Japan, for example, BTC is surging in popularity due to a law that has recently passed to recognize Bitcoin as a legal form of online payment, removing the consumer tax and putting regulatory guidelines in place for Bitcoin businesses, resulting in 18 exchange applications in one month.
Not only that, but the revision of the Bitcoin ETF by the Securities and Exchange Commission (SEC) is also currently underway, giving Bitcoinists everywhere a glimpse of hope that this decision may be the one that see the COIN ETF listed on the Bats stock exchange.
Mainstream Tipping Point?
Despite Bitcoin’s position as a global, apolitical currency that is neither issued nor regulated by any government or central bank, Bitcoin is now reaching mainstream audiences with more frequency and impact than ever before.
In the aftermath of the plummeting markets, CNBC has actually advised investors to consider Bitcoin as an investment stating that it “may look attractive as a sort of