Back at the start of the year, Bitcoin hit its highest peak since 2013 only to drop back down in value a week later. Now this week, Bitcoin has shot back up once again, with the digital currency almost hitting an all-time high point but coming just three dollars short.
This most recent rise brought Bitcoin value up to $1160, which is just shy of a record all-time high of $1163 back in November 2013. The timing of this rise is interesting too, as there has been speculation that the first Bitcoin exchange-traded fund is set to receive approval from a US financial regulator, according to Reuters.
Some analysts are claiming that regulatory approval of a Bitcoin ETF would make the currency more attractive to the institutional investment market. Three ETF’s for Bitcoin have been filed in the past and the US Securities and Exchange Commission is now finally taking a look at the first filing from around four years ago. If approved, this would be the first bitcoin ETF regulated in the US.
KitGuru Says: Bitcoin tends to have its rise and falls but it seems that overall, value has been up since the start of 2017. Do any of you still have any bitcoin floating around? Are you thinking about cashing in, or are you holding on to them?