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Bitcoin has become one of the top currencies in the world

Bitcoin has become one of the top currencies in the world

It was the first time in the whole history of bitcoin that it reached the level of $3K as it was on Sunday.

Bitcoin has become one of the top currencies

The growth of the value of this cryptocurrency has been really noticeable throughout the week as it reached its peak of $3,012.05, as it was informed by CoinDesk’s Bitcoin Price Index (BPI). The cost of bitcoin on Bitfinex was $3,003, but on the exchange OKCoin in China, the worth of bitcoin currency was $3,185.66.

As the Asia investors revealed the higher interest for bitcoin, this helped it to grow in value in May and its price reached as high as $1,880, which has become the reason of brewing political scandals in the UK and Brazil.

However, this wasn’t the highest level, as bitcoin has passed the line of $2K. This fact was explained by experts differently but the most frequent explanation was the increased demand from Japanese and Chinese investors. The previous week, bitcoin reached the level of $2,760.10 that became true at the end of May, as numerous digital currency exchanges in China have resumed bitcoin withdrawals on their platforms.

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According to the Chinese National Committee of Experts on the Internet Financial Security Technology, bitcoin trading volume in the UK has gained CNY 21.7087 billion (US $3.193 billion) in May. This is 4 times higher in comparison to the previous month.

Pay attention to the fact that in February, the leading exchanges of digital currency in China stopped bitcoin and litecoin withdrawals on their own platforms because they better their anti-money laundering abilities to stop ‘illegal transactions’. The innovations have become the part of People’s Bank of China requirements that ask digital currency providers to use their products against anti-laundering.

Not only Chinese traders have expressed their interest, but also Japanese ones, as local regulations have been offered by the government that accepts bitcoin as a legal payment method.

Brian Kelly, the BKCM founder and CEO, told that bitcoin was “in the first years of what is likely to be a multi-year bull market,” but although there is a chance of cost corrections and fluctuations, “bitcoin is here to stay.”

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