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Is the value of Bitcoin surging again?

Answer: Yes.

by / November 19, 2020

Remember in 2017 when price on the cryptocurrency Bitcoin just kept growing and growing with seemingly no end in sight? Well due to the volatile nature of the cryptocurrency, it’s seeing a sudden surge again (although this is nothing like the last time).

According to Digital Trends, the value of one Bitcoin topped $18,000 in the early hours Wednesday morning. That’s less than $1,000 below its all-time high of $19,783.06, which it hit on Dec. 17, 2017. Don’t get too excited though, that value quickly began to drop and by midmorning Wednesday were down to around $17,000.

Bitcoin values have been known to fluctuate wildly, so it’s not entirely surprising that they’ve increased by 70 percent this quarter. Any number of factors could be contributing to this increase, such as PayPal’s announcement that it will be adding cryptocurrency features to its platform. There’s also, as always, the coronavirus pandemic to consider.

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