Bitcoin has even made a small recovery last week after the catastrophic 70% decline since December last year. At present, it is valued at $11137.90 with $2342.85 additional to the virtual currency’s worth and increasing by nearly 26% since the past week.
Andy Hoffman, the operator of a cryptocurrency consultation firm, declared that the present worth of 96,650 BTC is One Billion dollars approx at the current market rates.
He even tweeted saying,
“Bitcoin address 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 purchased $344 million worth at an average of $8,400 (£5980.55) from 2/09/18 through 02/12/18 – then, doubled down adding nearly 41,000 coins for a new total of 96,000 coins worth around $900,000,000 at today’s price ($9,400).”
On December 17, Bitcoin hit an all-time high of $19,535.70 before sharply declining. A brief revival of the cryptocurrency markets occurred on 6th Jan when Bitcoin recovered to $17,035.60 but soon after which it had a dramatic free fall down to under $6000.
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