While I’m writing this article the bitcoin all time high reached a value of $2,019 for the first time in its history.
By reaching a value of more than $2,000, bitcoin’s price grown of about 100% this year and nearly 125% since the annual low of $891.51 bitcoin hit back in March.
Experts agreed that bitcoin’s price recent growth could lead to reaching significant attention from the media and maybe also major financial media outlet would cover bitcoin.
Google Trends data showed that the search for “bitcoin” have still not reached its all-time high they set back in December 2013, but it is getting closer (right now it has a score of 85/100).
That said, the reasons that drove the bitcoin all time high are difficult to identify.
Surely, one reason is the increase in interest from investors and traders, as reported by the major exchange platforms.
Another factor that helped bitcoin to reach its current all-time high is the growing influence of Japan, a country where the technology is now regulated: from April 1st, in fact, bitcoin became a legal method of payment.
The Japanese yen is the single largest currency being exchanged for bitcoin, accounting for more than 45% of the money flow into bitcoin at the time of the report, according to CryptoCompare data.
The Japanese yen is the greatest currency being exchanged for bitcoin: currently, almost 45% of the money flow into bitcoin.
After the yen, there is US dollar that makes up 30% of the money flowing into bitcoin.
Bitcoin price grew in spite of the current block size debate, an issue related to the transaction capacity and the blockchain speed to validate a transaction.
Bitcoin developers are talking about this issue in order to address it and there are a few proposals such as the so-called SegWit or Segregated Witness that would increase blocks capacity.
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