Bitcoin overpasses $4,700

Bitcoin has once again surpassed its previous record and continued its bullish trend – yesterday it even reached values more than $4,700, according to the data provided by CoinDesk.

Source: CoinDesk

However, the Coinmarketcap graphics shows $4,602 as a record price almost at the same time.

Source: Coinmarketcap

The community reacted to this news with optimism, some even joked that the market cap is 2 trillion. Nobody truly knows where is the actual limit – at which value the trend is going to stop.

Some analysts connected this growth to the external factor of North Korea. The head of global business development at blockchain corporation ConsenSys suggests that investors use Bitcoin due to the issues on the Korean peninsula, comparing this to how previously gold was used during wars. Questionable, if we remember that gold cannot be hacked or turned off.

Goldman Sachs predicted that Bitcoin is going to fall after just +500 USD growth. Looks like that after August 15 the fall actually took place, but it was not as dramatic as the market bears hoped. Judging by what we have seen, it’s better not to invest everything in one strategy, or rather, not to bet on just one case scenario while excluding all others.