Bitcoin futures prices have reached record highs as investors take aim at the digital currency’s price and potential to break the $1 trillion mark.
In an article posted Monday, The Wall St. Journal said the crypto-currency’s price has risen by more than 300% since January, which is more than twice the price of its closest rival, the digital gold standard, according to data from Bloomberg.
The report also noted that the price has jumped nearly 500% in just one day.
Bitcoin prices surged about $1,200 a coin on Monday, after a week of gains.
But it’s likely the rally will end quickly.
“If prices fall, that’s going to be a bust for the whole crypto-currencies world,” said Mark Thoma, a former Wall Street executive and now chief technology officer at Blockchain.
“This is not going to last.”
The cryptocurrency is still widely perceived to be the most popular among those who hold it, despite its volatility.
Bitcoin was worth just $4.50 on Monday at its peak, a price it has declined more than 200% since last summer, according the CoinDesk bitcoin price index.
But the price dropped more than 1,000% over the past three months, and on Monday traded at about $2.80, down more than 10%.
While some investors have been buying into bitcoin, others are trying to find more secure ways to store their money, such as using it for checking account or credit card purchases.
The WSJ said the price could be headed for a “boom-or to bust” moment as investors try to figure out if bitcoin will be a more reliable store of value or a bubble.
The cryptocurrency has been gaining in popularity among investors and analysts.
In a statement on Monday evening, Bloomberg’s David Tanden said the company’s cryptocurrency trading platform is seeing a surge in volume in the last three days.
“In the first three days of trading on Bloomberg’s platform, bitcoin traded at $1.30, more than 3,400 percent higher than the price at which it traded last Wednesday, the day before the cryptocurrency’s price began to rise,” Bloomberg said.
“The surge comes as investors are shifting to other digital currencies including ether, litecoin and ethereum, which were all on a similar trajectory as bitcoin.”
Ether surged more than 5,000 percent on Monday to reach $1 as investors flocked to its token, which allows its holders to exchange it for dollars or other cryptocurrencies.
“Ether is now trading for more than $1,” the price was quoted by the exchange platform on Monday.
Ether prices have surged by more, more, and more on the digital cryptocurrency market, according a recent Bloomberg article.
In other words, it is likely Ether will rise in value over the next few weeks.
The price of Ether surged to about $3.85 from a high of $1 on Wednesday, according data from CoinMarketCap.
But investors were trading it at a lower price of $3, and the cryptocurrency has since dropped.
The next day, a Bloomberg reporter tweeted out a screenshot of an Ethereum trading graph showing the cryptocurrency trading at $3 for a brief period on Monday afternoon.
The Wall Market’s price for Ether, however, spiked to $8.95 on Monday morning.
A brief period of strong activity on the exchange on Monday will likely help drive up the price.
“It’s not like this is a bubble, this is more like a spike, where you’re seeing a lot of people trading this thing at the right time,” said Paul Vigna, an investment strategist at Morgan Stanley.
The digital gold-standard digital currency is a digital version of gold, but instead of having a physical value, it has a virtual value that can be transferred through a network of computers.
A digital gold unit can be exchanged for cash in an exchange that uses a cryptographic proof of ownership, and its value is determined by a formula called a “proof of work.”
The technology behind the digital token is also used to create a digital certificate of trust for users, which means they can transfer bitcoins to one another without having to go through any intermediary.
In the past, the technology behind bitcoin was used to build digital wallets that could store large amounts of data, such a credit card number, bank account information, or other sensitive information.
But that technology has been slowly being replaced by the digital version, with the latest version being Bitcoin Core, a fork of Bitcoin that has been designed to make it easier for users to transfer funds between accounts.
Bitcoin Core also allows for faster transactions than the Bitcoin protocol, which uses computers to verify transactions.
However, Bitcoin Core is only available to developers, which could cause the price to spike.
The crypto-futures markets are also a place for investors to buy shares of bitcoin companies.
Many investors are buying into the technology because it is seen as the best way to move money around the world, with a price per bitcoin on Wall