Bitcoin's Smashing Success

It's no secret that over the roughly 10 years that have existed since Bitcoin's birth, the price of Bitcoin has risen dramatically. An investment of just a few dollars back in 2009 could have made any person the multimillionaire of their dreams had they just held onto their investment all of this time. Truly an astronomical feat of economic growth from such modest beginnings (albeit groundbreaking technology with Blockchain).

Bitcoin, back in the limelight after social media giant Facebook this week announced it's creating its own cryptocurrency and payments network, has hit a fresh year-to-date high and is edging closer to the psychological $10,000 per bitcoin mark.

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The slide in cryptocurrencies accelerated, with Bitcoin prices piercing the $5,000 mark for the first time since October 2017, amid speculation that increased regulatory scrutiny will prompt issuers of initial coin offerings to liquidate holdings. Bitcoin declined as much as 9.1% to $4,958, falling for an eighth consecutive day in what is the longest string of losses on record for the 10-year-old digital token.

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