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Bitcoin Hit $4000 CAD And It's Awesome

Bitcoin coin, (Pixabay)

The cryptocurrency known as Bitcoin has now managed to hit 4000$ total. This is, of course, the amount of 1 Bitcoin.  This is a huge increase considering just yesterday Bitcoin was only worth $3700 CAD. Bitcoin Cash is also not doing as well.

This is all happening right after the fork that created Bitcoin Cash had happened. Many people were scared that their Bitcoins would be worth around 200$ USD. However, while Bitcoin Cash did not do as well, the original Bitcoin seems to be doing really well.

Part of the reason why Bitcoin Cash did not do as well as Bitcoin is because many people feel that the change was not lucrative for them if they decided to change to Bitcoin Cash. It would be less profitable. As of right now, miners do not feel like it's worth to mine Bitcoin Cash or use it all that much.

People on the other hand who invested money into Bitcoin when it was around the 3100$ CAD mark are probably jumping up and down in happiness. This is because like any stock value when the price of the "item" if you can say that goes up, whoever invested when it was low makes more money.

If you're one of the lucky people that have a nice fat stack of cash because you bought Bitcoin when it was cheap, it might be the time to sell because it can fall again at any moment.

If you want to get into buying and trading Crypto such as Bitcoin, it's possible. You can sign up and use services such as Kraken. Kraken is just one of many places where you can learn more about Crypto and maybe even make some money off it. However, you can also lose a lot of money in it.

Bitcoin is a currency that can fluctuate a lot. The reason for this is because there's a lot of factors that are taken into the worth of a coin. Some of these factors are if the coin is being traded on exchanges if it's even being mined, as well as other reasons.

By Michael Normandin 

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