Bitcoin continues breaking one all-time high after another in just a few days. Fueled by market announcements, as well as rumors and hype the price of the cryptocurrencies king passed the 7,000 dollars mark on November 2, 2017.
At the time of writing, Bitcoin has reached as high as $7,025 in Coinbase according to market data (current time 07:24 UTC).
This is the fourth day in a row that JustCryptoNews.com reports a tremendous growth in Bitcoin price. On October 29, one bitcoin worth below 6,000 dollars. Every day since then, the price hits a new all-time high reaching today the 7,000 mark. Just yesterday, one bitcoin worth $6,500 but it increased by 8% in 24h alone.
In the last 30 days alone, Bitcoin has increased its price by an astonishing 60% as you can see in the table below (data from coinmarketcap):
| Date | Price ($) | Market Cap (Mllions) | Volume (Millions) |
| 2017-10-03 | 4,317 | 73,181 | 1,288 |
| 2017-10-04 | 4,229 | 71,713 | 1,117 |
| 2017-10-05 | 4,328 | 70,234 | 1,162 |
| 2017-10-06 | 4,371 | 71,811 | 1,070 |
| 2017-10-07 | 4,427 | 72,565 | 907 |
| 2017-10-08 | 4,610 | 73,575 | 1,314 |
| 2017-10-09 | 4,772 | 76,657 | 1,969 |
| 2017-10-10 | 4,782 | 79,352 | 1,597 |
| 2017-10-11 | 4,826 | 79,578 | 1,222 |
| 2017-10-12 | 5,447 | 80,257 | 2,792 |
| 2017-10-13 | 5,647 | 90,812 | 3,615 |
| 2017-10-14 | 5,832 | 93,803 | 1,669 |
| 2017-10-15 | 5,678 | 97,012 | 1,976 |
| 2017-10-16 | 5,726 | 94,559 | 2,008 |
| 2017-10-17 | 5,606 | 95,469 | 1,822 |
| 2017-10-18 | 5,591 | 93,190 | 2,399 |
| 2017-10-19 | 5,709 | 92,867 | 1,781 |
| 2017-10-20 | 6,011 | 94,948 | 2,354 |
| 2017-10-21 | 6,032 | 99,763 | 2,207 |
| 2017-10-22 | 6,008 | 100,438 | 2,035 |
| 2017-10-23 | 5,930 | 99,942 | 2,402 |
| 2017-10-24 | 5,527 | 98,782 | 2,736 |
| 2017-10-25 | 5,751 | 91,954 | 1,967 |
| 2017-10-26 | 5,905 | 95,685 | 1,905 |
| 2017-10-27 | 5,781 | 98,225 | 1,710 |
| 2017-10-28 | 5,753 | 96,370 | 1,404 |
| 2017-10-29 | 6,154 | 95,820 | 2,859 |
| 2017-10-30 | 6,131 | 101,833 | 1,772 |
| 2017-10-31 | 6,468 | 102,130 | 2,311 |
| 2017-11-01 | 6,767 | 107,287 | 2,870 |
Charts show bitcoin's growth more eloquently:
As a result, Bitcoin’s market capitalization quickly passed the $100 billion mark. Today Bitcoin commands over $116 billion while the second cryptocurrency, Ethereum, is stuck at less than one-third of this (27 billion).
Will The Price Drive End Soon?
Nobody knows. Bitcoin market cap and price is on the rise from the start of 2017, and many believe this is just the result of the cryptocurrency becoming mainstream.
A factor in the unstoppable bitcoin price growth is the ICOs. At least $1.2 billion has been raised for over 100 ICOs, this year. And Bitcoin serves as the liquid asset behind all these ICOs, adding to its price increase significantly.
Another reason for the rapid bitcoin rising might be the recent announcements. One of the world's largest financial market companies, CME Group, said it will launch Bitcoin derivatives in the last quarter of 2017. And then you have always the Amazon rumors, that the online shopping behemoth will start accepting bitcoin soon or even that Amazon might launch its own cryptocurrency.