The Bitcoin price has reached its new record of $3,000, according to the CoinDesk Bitcoin Price Index (BPI). Bitcoin sets a new all-time high just in time when alternative cryptocurrencies see considerable inflows.
Bitcoin price has been growing for the whole last month. At the beginning of May, the cryptocurrency traded at the level of $1,437. Remarkably, it was recorded for the first time ever that altcoins accounted for more of the overall cryptocurrency market capitalization. Bitcoin’s dominance stood at just 59.1 percent, the lowest it has ever been. To compare, Bitcoin’s market dominance was 87 percent at the beginning of 2017.
Moving closer to the end of May, Bitcoin set a new all-time high of $2,303 being driven by the growing demand from traders looking to invest into alternative assets. The total market capitalization reached $37 billion.
As for now, the Bitcoin price makes up $2,927, the market capitalization is $48,5 billion. The price at CoinMarketCap hasn’t surpassed the $3,000 barrier so far while the all-time high of $2,999.91 was recorded on June 6.
Meanwhile, we shouldn’t forget the altcoins that are gaining momentum. Experts admit that Bitcoin is growing at a very nice pace, but non-bitcoin cryptocurrencies are growing even faster.
Ethereum, the main rival of Bitcoin, reached its highest of $362.42 today at 06:04 UTC. Now, the cryptocurrency is traded at $370 with market capitalization having reached $33,4 billion.
As Ethereum and Bitcoin are hitting record numbers, the pundits are out in force with proclamations of “digital currencies are in a bubble”. While Mark Cuban and some other Wall Street guys insist on the bubble, Daniel Mark Harrison from Coinspeaker says “market bipolarity” and proves why Bitcoin, Ethereum and other digital assets will never be in a bubble.
Here we describe how digital currency arbitrage works and how you can get the profit that is right in front of you.
Giga Watt project, a provider of turnkey mining services and custom packages tailored to clients’ needs, is starting the third batch of WTT tokens that will allow mining cryptocurrencies at lower prices. WTT tokens give the right to use Giga Watt’s processing center capacity to accommodate one watt’s worth of mining equipment power consumption, rent-free, for the lifetime of the hosting facility (generally, about 50 years). Thus, Bitcoin enthusiasts will mine the cryptocurrency much cheaper than the online price – for about $540. Besides, Giga Watt’s facilities power any proof-of-work miner enabling WTT token holders to mine Ethereum and Litecoin, and even more digital currencies in the future.
Remarkably, the first two batches of WTT tokens have sold out completely in just three days with tokens to be issued in August 2017. Initially, Giga Watt announced the upcoming launch of crowdsale in May.