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Bitcoin Hits $7,000 CAD

Bitcoin (pixabay)

In a turn of events that not many people think would happen so soon has just happened. This is yet another milestone that they cryptocurrency known as Bitcoin has hit within the last 3 months. Can it keep rinsing "to the moon" as some users say?

Bitcoin which is a noticeable cryptocurrency run by ordinary people all around the world. It came out around 2008. It gained popularity because it gave people the freedom to buy whatever they want without being traced by governments and or people.

Some of the milestones hit by it were $5,000 $5,500, and $5,900 CAD. A few months ago one whole Bitcoin was worth a mere $3,500 CAD. That's almost unimaginable. It's currently at a whopping $7,000 CAD which really makes a lot of people happy because if they save their coins up, they made some good money.

There was some bump in the roads when it came out that the Chinese government had been reportedly shutting down Bitcoin exchanges. This caused a slight price drop but it recovered several weeks later. A situation where a price drop occurs usually every now and then.

The continued success of this particular cryptocurrency is simply the support that it has received from both countries around the world and ordinary people that love the features of it.

If you're interested in getting your share of Bitcoin you can by buying some on exchanges, getting it from faucets, buying it from Bitcoin ATMs, you can also gamble to get it but if you do gamble responsibly.

Will Bitcoin keep rising? Probably and the reason the answer might be so easy is that of the simple law of supply and demand. There's a limited number of Bitcoins that can be found and "mined" There cannot be more than that. When the max is reached or you come close to the max amount that can be found it's certain that the price will skyrocket because of a high demand and low supply.

By Michael Normandin

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