This recent Bitcoin bullrun has been nothing short of amazing. For several months now, the Bitcoin price continues to increase. There is no sign of things even remotely slowing down either. Now that the psychological barrier of 2,000 EUR has been breached, the future looks better than before. At this rate, one BTC will be worth US$2,500 before the month is over.
Bitcoin Surpasses 2,000 EUR Mark With Ease
It is always interesting to look at the Bitcoin price in different markets. In the United States, reaching US$2,000 was quite significant. Despite some minor resistance around that price, things have continued on a very bullish trend. Right now, one BTC is valued at US$2,329. This goes to show the US$2,500 mark is that far off. Very few people expected to see that price about a year ago.
Surpassing the 2,000 EUR barrier on the Euro side is equally significant. Given the USD/EUR exchange rate, it requires a lot more effort to reach 2,000 EUR. Even though people often talk about Bitcoin in USD value, it is not the only major currency that matters. One day, we may not even talk about fiat currencies in relation to Bitcoin anymore. For now, people are still dealing with these psychological barriers of resistance. Things are looking good on the EUR side right now though.
Interestingly enough, the Euro trading pairs still generate little volume. The market continues to be dominated by altcoin trading right now. Bitcoin’s largest markets right now are either, XRP, and Litecoin. The top 5 is completed by USD and KRW trading. That said, the difference between most trading pairs is relatively small right now. It is interesting to see how altcoins are driving up the Bitcoin price now. Things used to be very different just a few months ago.
The Bitcoin price has to break through one more psychological barrier in the future, though. The Bitcoin value compared to the Pound Sterling. Although most people see this as a less popular trading market, is is still quite an important one. It will take a fair bit of money to move BTC past that 2,000 GBP mark, though. Right now, one BTC is worth 1,790 British Pound. It is only a matter of time until the 2,000 GBP mark is reached, though. By that time, Bitcoin will be well over US$2,500 and 2,250 EUR. Exciting times are ahead.