Although the price of one currency has not yet surpassed the maximum reached in 2013, the introduction of these new currencies into the system is proceeding at a pace that sustains the increase in the total value of currencies already in circulation.
The total value of all bitcoins in circulation has reached a new record, according to a Reuters news release, this Thursday, the sum of all currencies has already reached 14 billion dollars, at a time when the conversion rate One of the highest values in recent years.
This week, the price of bitcoin reached US $ 875 per coin in the European market of Bitmap, thus exceeding the marks reached since January 2014. In parallel, this value already represents more than twice the price that bitcoin started in the beginning of the year ($ 435).
According to some experts, the valuation of crypto-currency is being supported by the demonetization of the Indian economy and the fall of the Yuan. In this year 2016, the Chinese currency fell about 7%, while bitcoin transactions increased substantially in the country, managing to keep the volume until this December.
Bitcoin is an internet-based currency and can be used to transfer money between various parts of the globe without the need to declare it to a central authority or to assume an identity.
In China, these characteristics can become enticing to circumvent frequent capital controls.
However, despite this appreciation, the price of the currency is still far from the values reached in the year 2013, when a bitcoin cost $ 1,163 in the European market.
The total amount in circulation continues to increase given the introduction of more and more currencies in the system. According to the latest records, the pace of registration of new coins is at 12.5 new coins every 10 minutes.