Maybe the news about Bitcoin reaching a value of $25,000 [see story here] is not so crazy after all. Less than one week after that story broke on PHH, profit’s already been made by those who bought coins at that moment. All Bitcoins are now worth a record high of just over $1,200 USD.
What made the new jump on prices?
The United States is rumored to be on the brink of regulatory approval the first ETF (exchange-traded fund) is soon to be issued. In layman’s, the US Gov is starting to move into accepting the usage of the crypto currency which has grown in value more than any other currency since it’s creation in 2008. Only in the year 2014 did the digi-coin see a tank, but it bounced back rapidly with one of the biggest profit opportunities for any investor in the last 5 years.
The Bitcoin went up to $1,200 on Friday, dropping to $1,190 at the day’s end according to CNBC. Either way, it was still a profit for those who purchased a crypto coin 24 hours or more before.
Three Exchange Trade Funds that monitor the price of Bitcoin have filed for approval with the US Securities and Exchange (USCE) commission. If approved, these coins will likely again go up in value as it will help ease the minds of those doubting the BC market now.