Bitcoin Prices Surge Past $5,000 Three Weeks After Passing $4,000

[DEAD7]

Less than three weeks after surging past $4,000, Bitcoin reached $5,000 on Asian exchanges Friday. An anonymous reader quotes Fortune:
The idea of Bitcoin breaking the symbolic milestone of $5,000 would have been unthinkable to most people at the start 2017, when the price topped $1,000 for the first time. If you're keeping track, the digital currency is up 500% this year, and nearly 2200% since mid-2015, when it was in the doldrums at around $220. There appears to be no single reason for the recent run-up. Instead, it can likely be explained by the same factors driving this year's cryptocurrency bull run: Publicity-driven speculation; New financial products creating unprecedented liquidity; Trading surges in Asian markets; Institutional investors treating digital currency as a permanent new asset class.

"Magical Internet Money Hits $5k" writes Bitcoin News, adding "so far in 2017 bitcoin has outperformed all government issued tender and a vast majority of stocks and commodities."

While the head of the Bitcoin Foundation has urged people to invest "no more than they can afford," Bitcoin now has a market capitalization of $82.6 billion.

Bitcoin Breaks $5,000 in Latest Price Frenzy

 

[ORDER_66]

Damn Litecoin is up to $80!!!!

 

[Green N' White]

Another missed opportunity. How would one convert his Bitcoin to cash?

 

[badboys11]

Another missed opportunity. How would one convert his Bitcoin to cash?

Bitcoin is electronic currency. You have ro find a cash buyer

 

[TRFG]

Bitcoin is electronic currency. You have ro find a cash buyer

no, you find an exchange.

 

[BigMoneyGrip]

Time to cash out brehs

I got 50 bitcoins

 

[Wise]

Question is, will it have a meltdown anytime soon? How much more can it possibly go up?

 

[Jammer22]

Won't the implementation of block-chain boost this thing higher?

 

[Apex Mentality]

Question is, will it have a meltdown anytime soon? How much more can it possibly go up?

Many people thought this was a bubble that would burst (including me). Instead it looks like this will be rather permanent. One analyst forecasted that in 100 years or so, bitcoin could be worth $100k a coin.

Dips in the future are probable but bitcoin will most likely never fade permanently.

 

[theworldismine13]

Another missed opportunity. How would one convert his Bitcoin to cash?

http://coinbase.com

 

[Menelik II]

I trade this all day. Bitcoin / blockchain is trash, some transactions taking upto a day to be confirmed. In its current form it definitely isn't the future

 

[Breh13]

Knew about this years back when it was relatively cheap.

 

[Mensch Fontana]

shyt dropped $500 in the last day

 

[GnauzBookOfRhymes]

I trade this all day. Bitcoin / blockchain is trash, some transactions taking upto a day to be confirmed. In its current form it definitely isn't the future

Upon finalization of transaction do you have hard currency in your account? And what is process of extracting currency from that account to bank?

 

[Menelik II]

Upon finalization of transaction do you have hard currency in your account? And what is process of extracting currency from that account to bank?

well for me i'm just moving coins from one account to the next, which should be easy and quick, but it hasn't been.

If you're talking about converting to USD then that's much more problematic, as fiat currency is even worse than bitcoin. once you've sold your coins on an exchange, and converted to USD, that USD needs to be sent via intl payment to your own bank account, and will incur charges.