Bitcoin price breaks $14,000 mark, up 90% so far this year

Nov. 5 (Xinhua) — Bitcoin, the world’s largest cryptocurrency, broke through the $14,000 mark on Wednesday, according tomedia reports. Bitcoin prices have fluctuated significantly over the past few days, repeatedly breaking through $14,000, but then falling back. On Wednesday, the cryptocurrency rose 3.8 per cent to $14,265, its highest level since January 2018.

Bitcoin price breaks $14,000 mark, up 90% so far this year

Bitcoin is the world’s largest cryptocurrency, known for its volatile prices. The price of the cryptocurrency has risen by 90% so far this year. By contrast, the Standard and Poor’s 500 index is up 4.5 percent.

Bitcoin is a cryptocurrency that uses blockchain as a payment system and was invented in 2009 by Zhongben Cong based on a cross-border recity network, using consensus-active open source software. By encrypting digital signatures, you can solve problems such as overpayment of a currency and transaction security without the need for any third-party credit institution.

Bitcoin supply is understood to be limited to 21 million, a figure expected to be reached by about 2140.

Last month, pay platform PayPal announced its own digital currency service, allowing people to buy, hold and sell digital currency on its websites and apps.