In a massive surge in the value trends of Bitcoin, an all-time high was seen on Sunday of gain about 200% in the value, the cryptocurrency reaching $3,000 mark, ever since January 2017.
The cause owing to it is the growing demand among the investors in Asian markets is bitcoin’s bull run after the return of Bitcoins, China returns near the top of the global trading markets. Further contributing to the fact was the second and third largest trading markets in the world Japan and Korea respectively, which no longer have the premium on prices in these markets.
The rise in trend for the adoption of Bitcoin comes after the Japanese government approved Bitcoin as a legal method of payment.
A current rise in Bitcoin trend has also been due to the rise in investments into alternative cryptocurrencies, topping the list Ethereum, Litecoin and Ripple. The overall rise of over 500% in this year saw a combined cryptocurrency market value striking at a $100 billion for the first time in history.
With the starting of June seeing the price marks of $2,300. With the range staying in between $2,700-$2,850 during the past week after starting above $2,500 last Monday. The prices rose above $2,900 for a brief time on Saturday. Bitcoin price went up Sunday afternoon, jumping from $2,925 to touch $3,000 in just over 2 hours.