Could the bitcoin price ever climb over $1,000 again? Many of us choose to remember the digital currency in its best days, when one coin was worth about $1,100 at the end of 2013, and those who delve in it regularly want to hold onto the thought that the price could eventually scale that mountain again.
But at this point, how likely is it? The price of bitcoin has dropped about $1,000 this year alone. We have witnessed massive fluctuations in the currency’s price, and many have even gone so far as to say that bitcoin is dead. While the currency can’t exactly be labeled as “dead” (the price has gone down, that’s for sure, but the currency has rebounded somewhat and is still receiving attention from a number of business entities), many are looking at bitcoin with a questioning eye and wondering if it could ever find a true, solid place in the financial universe again and return to its glory days.
As usual, sites such as bitcointalk.org have not really been a huge help. The verdict (no surprise here) seems to be split right down the middle. Some say the price will ultimately climb and reach its peak yet again, while others say the currency has worn out its welcome and is not likely to witness the sunrise.
However, when looking at the bitcoin sector, one can still hold onto hope. Recently, Coinbase secured the largest amount obtained in a Series-C funding round by any bitcoin-related company. Through the aid of investors such as the New York Stock Exchange, Coinbase managed to get its hands on a whopping $75 million. Information such as this could suggest that bitcoin is still prominent, and if larger entities are taking it seriously enough, the price could eventually witness a high-rise again.