Bitcoin pricing hits a new all-time high of $19,850

After three years of climbs and dips, Bitcoin’s value has reached a new all-time high of $19,850 (US), surpassing 2017’s maximum value of $19,783. Today’s increase is a cause of celebration for Bitcoin investors, as this new record high symbolises a validation of the resiliency of cryptocurrencies. 

Bitcoin has now fully recovered from its 2017 crash, and some analysts are predicting further gains in the cryptocurrencies value. That said, the value of Bitcoin has already dropped below this new high, as every new high for the cryptocurrency is always followed by investors cashing out. 

Further increase in Bitcoin’s value will be fueled by increased use of the currency by mainstream payment companies. Paypal is already preparing to support Bitcoin, and Square already supports the currency. Institutional demand for the currency is also increasing. 

At this time, it is unknown how Bitcoin’s value will change in the long-term, with detractors predicting another collapse in the near-to-midterm future while others are predicting Bitcoin’s value to reach as high as $100,000 next year. 

As always, we will say that investing in cryptocurrencies is a risky venture. Cryptocurrencies have seen several rapid increases in value and painful crashes over the past few years. Generating a profit is not guaranteed, and exiting the market at the wrong time could result in hefty losses.