Bitcoin Recently Surpassed $3,300, Market Cap Reached $50 Billion

Proving several financial analysts right in their predictions, Bitcoin (BTC) recently attained its highest valuation, surpassing $3,300. This is in line with what market experts expected from the surging cryptocurrency, which helped propel its total market cap above $50 billion. This is an encouraging sign as well, considering that the currency recently split to form two diverging parties.

On Saturday, BTC peaked at a record-breaking $3,360.87 at CoinDesk. It has since gone down to settle at $3,266.14 as of writing, but that is still beyond what the coin was worth just last week. What’s more, the currency’s market cap is at $53 billion as of writing this piece and it’s only expected to keep going up.

This surge in price and market cap surprised some people, largely because of the doomsday predictions being spread around after the introduction of Bitcoin Cash. At the time, BTC prices dropped momentarily but quickly rallied to break even more records.

This year alone, BTC has more than tripled in value, Market Watch reports. This is despite the volatility associated with the digital currency or the cryptocurrency market, in general. After reaching $2,000 back in May, BTC surged past $3,000 a month later. It quickly crashed a little while after that, which obliterated about 20 percent of its previous value, but then it rocketed to historic heights once more.

At this point, it’s only to be expected that there would be some twitchy highs and lows when it comes to the digital currency, but many financial experts agree that it’s here to stay. What’s more, its value is only going to keep increasing and there’s no stopping it.

BTC is not the only cryptocurrency that saw huge spikes in value either since Ethereum did so as well. On Saturday, the second most popular digital currency jumped 12 percent in value and then another seven percent on Sunday.