Bitcoin Price Crosses $15,000 Mark, ₦7M in Nigeria

On November 6, today, many sources reported that the price of Bitcoin cross the $15,000 mark. Thus, setting a new high this year. Earlier, the price of this cryptocurrency just broke the $14,000 mark.

Data from CoinDesk shows that in the past 24 hours, the price of Bitcoin has risen by nearly 10%. A few hours after breaking through the $14,500 level, the price of this cryptocurrency broke the $15,000 mark.

Bitcoin Price Rises Beyond 7 million Naira on Luno
Bitcoin Price Rises Beyond 7 million Naira on Luno

Bitcoin is the world’s largest cryptocurrency, and this cryptocurrency is known for its price fluctuations. Since the beginning of this year, the price of this cryptocurrency has soared. Since falling below $4,000 in March this year, the price of the cryptocurrency has doubled.

Joe DiPasquale, CEO of BitBull Capital, a cryptocurrency hedge fund management company, believes that bullish sentiment is the main driver of the recent rise in Bitcoin prices.

ALSO READ: Here is How To Buy, Sell Bitcoin And Make Profit

Bitcoin’s History

Bitcoin is an encrypted currency that uses blockchain as a payment system. It was invented by Satoshi Nakamoto in 2009 based on a borderless peer-to-peer network using consensus-active open source software. Through encrypted digital signature, it is possible to solve the problems of electronic money suchas multi-payment and transaction security without any third-party credit institution.

The supply of this cryptocurrency is limited to 21 million, and this number is expected to reach around 2140.

Despite the apparently high price of Bitcoin, the demand for this cryptocurrency is still growing significantly. The distribution map of holders shows that the number of investors holding 100 to 1,000 bitcoins has increased significantly.

However, we should also take into consideration that this cryptocurrency has begun actively using in various payment systems. Earlier this year, Opera browser started allowing US users to purchase virtual cryptocurrencies such as Bitcoin and Ethereum through Apple Pay. This will significantly reduce the time flow of cryptocurrency transactions. As the first browser with a built-in crypto wallet on both the Mac and iOS, Opera browser cooperates with American cryptocurrency brokerage company Wyre to allow US users in Opera to purchase this and other cryptocurrencies using a debit card or Apple Pay.

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