2016 has been an excellent year for Bitcoin in many respects. Scalability innovations like Segregated Witness have been introduced to the Bitcoin community, many successful Blockchain and Lightning Network tests have taken place, and many new markets have turned to Bitcoin as a viable currency option.
The price of Bitcoin has been a major positive in 2016 as well, with its value up by well over 75 percent. Dec. 1, 2016 marks the highest Bitcoin price measured in over two and a half years.
New Bitcoin High for 2016
According to BitcoinAverage, the price of Bitcoin passed the $760 mark on Thursday night, marking a new high for 2016 and eclipsing the $758 value from the last day of Spring on June 19, 2016.
The average Bitcoin price has not been at this level since Feb. 6, 2014, when the Bitcoin community began to discover that Mt. Gox was going to completely collapse.
The value of Bitcoin didn’t stop falling throughout 2014 and didn’t bottom out until midway through January 2015, when the price dropped below $200.
The reasons for this recent surge in price is fairly straightforward. Many countries national currency values are in a state of despair due to recent events, including Venezuela, Great Britain, Italy an