Posted November 08, 2017 08:23:23As the value of bitcoin has skyrocketed since the launch of its ICO earlier this year, the price has now hit $3,000.
However, there are a few big questions as to when the cryptocurrency will reach that mark.
According to data released by the CoinMarketCap, Bitcoin has hit an all-time high of $3.4,721.57 at 11:06am (AEST).
That puts it on a par with gold’s $4,919.67 peak at 2:06pm AEST.
But there are several big questions with regard to when Bitcoin can reach that milestone, such as whether it will reach $3 million before the end of this year or be surpassed by another altcoin.
Bitcoin reached a new all-timeline high in the space of just three months, during the month of November 2017.
While the price spiked dramatically, it has since dipped considerably in recent weeks.
In fact, Bitcoin’s recent price decline is the biggest single-day decline of any altcoin, with the price plummeting by more than $2,000 between Nov. 15 and Nov. 17.
While this may seem a bit drastic, the cryptocurrency is still growing.
Over the past two months, the value has grown by $1.5 billion, with Bitcoin now worth $941.4 billion, according to data compiled by CoinMarketcap.
This is an impressive growth rate, but not without its problems.
The cryptocurrency has struggled to find a stable and stable footing in the market, with most people either using it to purchase goods or services on the digital currency, or buying and selling bitcoins for dollars and other fiat currencies.
The price of the cryptocurrency has also been on a tear over the past few weeks, hitting a new record high of nearly $3k per coin at 11am AEST on Nov. 16.
It’s also not clear whether or not Bitcoin can maintain this price momentum in the future.
Even though it has been the biggest altcoin since its inception in 2017, the Bitcoin community has been split on the future of the currency.
One side believes the cryptocurrency can grow and thrive, while the other says it cannot.
Some believe the cryptocurrency’s future will likely hinge on the continued growth of other altcoins such as Litecoin, Dash and Dogecoin, while others believe the price will eventually reach its previous high.
Regardless of which side of the debate you are on, it is important to keep in mind that Bitcoin’s marketcap has increased by $2.8 billion in the past year, according.
It is not the first time a Bitcoin price has hit a new peak, but it is the first to do so since Nov. 12, 2017.
For those who don’t have access to a computer, here’s how the cryptocurrency market looked before its new peak.
Bitcoin’s price soared nearly $10,000 from Nov. 11, 2017 to Nov. 14, 2017, according the CoinmarketCap data.
This spike is the most dramatic single-year drop of any cryptocurrency since October 2018.