Bitcoin has hit another high point, today Saturday December 16, 2017 it broke the 19k bubble for the first time. Experts keep commenting that at this rate the "currency value is an unsustainable bubble". More and more economists are commenting that this is an unsustainable bubble.
"A lot of bubbles historically involve some kind of new financial technology the effects of which people can't really predict," said William Deringer, an historian at MIT. "These new financial innovations create enthusiasm at a speed that is greater than people are able to reckon with all the consequences."
Its estimated that all the bitcoins in current circulation have a value worth around $300 billion dollars with the current networking averaging about four transactions per second. With so many transactions happening its definitely putting a strain on the network.
Some Bitcoin developers have been looking at a new payment network called Lightning which operates as a layer on top of the Bitcoin blockchain. Its currently in its early stages but if it works as believed it could expand the networks throughput.
Looks like BTC's price is inching closer and closer towards $20K before 2017 ends.
Yep its does. I'm curious to see where it ends up at years end. It would be interesting if it hit 20k then dropped soon after the new year then shot up again.