Christmas has certainly arrived for bitcoin investors as the virtual currency hit $900 and climbed as high as $917 on the dinbits index. Over the course of the long holiday (today Christmas is officially observed) weekend a glorious roller-coaster ride above and below $900 was enjoyed by some while others grabbed that little white paper-bag.
Currently sitting at $904.79 bitcoin continues to exceed expectation and dominate all currency performance globally and for the 3rd year running, bitcoin has outperformed both the US dollar and gold¹ which is currently at $1341.10.
If bitcoin continues on this trajectory it could rival the actual price of gold and is already way beyond the current platinum² price.
Altcoin Markets
Ether and Ether Classic are at $7.20 and $1.04 respectively and while close to Dash price just shy of $10, all three are rather far behind newcomer Z-Cash³ which is current sitting at $43.21.
Z-Cash, a new altcoin we've been covering for about 1 year now, was released recently and enjoyed tremendous support which has evened out around $50 but the volumes are significantly higher than other altcoins and nearly double that of Litecoin or Ether.
We predicted the $800's near the end of the year back in July and 30% back in march. Both predictions have been exceeded expectation and as we've stated several times, the rest has been gravy. However, the question now is will we see $1000 before 2017.
My guess is that this is very possible between December 29th and December 31st, but honesty if you took our advice back in March earnings this week will be peanuts in comparison.
Report by dinbits
Image by dinbits.com staff
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