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BITCOINS. Definition: Bitcoin is a digital currency created in 2009. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. Today's market cap for all bitcoin (abbreviated BTC or, less frequently, XBT) in circulation exceeds $7 billion. There are no physical bitcoins, only balances kept on a public ledger in the cloud that – along with all Bitcoin transactions – is verified by a massive amount of computing power.'

CURRENT SITUATION. Bitcoin's price is hitting new highs yet again this week, after overnight trading. According to the CoinDesk Bitcoin Price Index (BPI), markets climbed to as much as 150% in the past 2 month. The $4,166 price point was first crossed at around 1:15 UTC, BPI data shows, and apart from minor dips over the following two days has stayed above that level since and crossed the $4,166 on several exchanges this afternoon – the rest of the top 10 cryptocurrencies as listed by market capitalization have seen price increases of at least 8% weekly

PREDICTIONS. As price rises as shown discussed above, mainstream entities pick up on the gains, and wider market participation feeds the fire. There is always the potential for a correction at the sort of highs but considering the movements presented in the past few days, the analysts predict that the price would go up to 7 000 USD during the next 3 months.