Bitcoin Value Climbs $1000+ in 2017 – Explaining What Bitcoin Is and How It Works

Bitcoin has seen a huge surge of over $1000 in 2017, going beyond $1006.32 as per Bitstamp Price Index, making it its highest value in three years. While the currency’s volatility has been a concern, its movement can be attributed to the 7% fall of the Chinese yuan and increasing demand in the country. With exchanges of over 38 billion yen and a market cap of 16 billion USD, Bitcoin is steadily become the go-to asset for capital control evaders.

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