Bitcoin reached its highest price in its short history when it doubled in value in just one month.
During the month of August Bitcoin went from a price of $2788 on August 1st, 2017 to $4564 on August 31st, and it wasn’t finished heading for the stars quite yet. On September 2 bitcoin reached a high of $4780, before it started to crash, losing about 15% in just a bit over a week. As of September 11th, one bitcoin costs $4106.
Overall this year bitcoin has grown by 358%, starting slowly in January, but then really taking off in March this year, when it began climbing from just under $1000 on March 24th, and just kept going.
Listen to one commentator’s analysis of this investing phenomenon. Is it a bubble, or isn’t it?