Bitcoin Briefly Breaks $9 Billion Market Capitalization

The Bitcoin network crossed another milestone earlier today. Thanks to the strong bitcoin trading in the past few weeks, the value of the digital currency has almost reached $600 mark. Simultaneously, keeping up with the increasing bitcoin price, the total market capitalization of the digital currency today crossed $9 billion.

Even though the increase in market capitalization beyond $9 billion was short-lived, it is a milestone to be celebrated nevertheless. The digital currency hit the landmark number when its price crossed $576.50 to reach a maximum of $590.13 resulting in a maximum market capitalization of around $9.217 billion. Since then the wave of price surge has declined to reach $569.3 (at the time of writing) at a market capitalization of under $9 billion.

bitcoin market capitalization

bitcoin market capitalization

Bitcoin has been going strong since the past two weeks, where the value of digital currency increased from a stable price of around $450 to reach $569 with brief price hikes extending beyond the final value in between. The increased demand for bitcoin has been attributed to the activity in the Chinese market, where people are said to be

Read more ... source: TheBitcoinNews