The recent surge in Bitcoin prices have caught the interest of many people. In this short summary, I hope to bring some clarity to what is happening now in the cryptocurrency space. And in a later paper, I hope to present some thoughts from the technical and financial industry on the still developing space.
Out of nowhere, the price of Bitcoin went from just under $1,000 dollars to well over $4,000. This four times increase in value in the span of nine months. This, however, is nothing new in the cryptocurrency space.
If we look at the raw percentage increase in value, back in 2013, the price went from $100 to $1,000. A ten times increase in value. …