Bitcoin Gains $1000 in Value Over the Course of One Week

Bitcoin Gains $1000 in Value Over the Course of One Week

Last week news.Bitcoin.com reported on how bitcoin crossed the $3K price range just five days after the network split. Now a week later the decentralized currency has continued to rise relentlessly and now commands a weighted average of $4140 per BTC at the time of writing. Most of the current demand for bitcoin is stemming from the U.S., Japan, China, South Korea and India, but the cryptocurrency is growing more popular in nearly every country worldwide according to Google Trends. Local Bitcoins volumes are also soaring in every nation state recorded by Coin Dance data.  

At this price, bitcoin’s entire market capitalization is roughly $66B and dominates 47 percent of the entire $134B cryptocurrency market cap. Further, since our last price analysis, BTC trade volume has increased from $1.7B to $2.3B over the past 24-hours. The $4K bitcoin price also follows in line with Goldman Sachs recent BTC predictiontwo months ago. Goldman Sachs chief technician, Sheba Jafari said at the time;