In April 2013, the value of bitcoin peaked at $266 before crashing to a low of $50 soon after. Since then, bitcoin has seen large fluctuations in its value, most recently following the seizure of online drugs marketplace Silk Road, plummeting before jumping $30 in one day to a high of $197 in October.
The average value of bitcoin held per user will hit $25,000. "As institutional investor cash in bitcoin, sophisticated investors trading bitcoin, and bitcoin-based ETFs proliferate, we think the average bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with bitcoin’s market cap of $16.4 billion, each of its 6.5 …
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