1,112.52

BitcoinPrice

Segwit Activation: 28.42% 95% threshold
BTC =

£772.68

2.52

Today's High

£773.15

Today's Low

£709.15

Today's Change

£19.01

Market Cap

£12.55B

Bitcoin Price Breaks £1000 Milestone

Published March 2, 2017

For the first time in its history, Bitcoin has broken through the £1000 milestone. The rally, which comes ahead of the upcoming SEC deadline to approve or reject the Winklevoss brothers’ proposed Bitcoin ETF (exchange traded fund), has been one of the most sustained seen to date. A Bitcoin ETF (there are several in the pipeline) is speculated to inject over $500m into Bitcoin’s “market cap” over the coming months, and the bull-run currently being witnessed would suggest that investors are predicting approval from the SEC. Continued capital controls in countries such as China and India are also possible contributors to the recent price rally, along with further mainstream media attention from the likes of Bloomberg and CNN.

If the SEC were to reject the Winkelvoss ETF, it is likely that price of Bitcoin would fall below the $1000 mark for the first time in several weeks. However, with so many other Bitcoin ETF filings currently under review, it is arguably only a matter of time until one receives full SEC approval. Should the current Bitcoin ETF proposal be rejected, it may well be an opportunity for those not yet invested to get some skin in the game.

The SEC will make their judgement on the Winklevoss Bitcoin ETF on March 11th.

PBOC Demonstrates Chinese Influence

Published February 10, 2017

If there was ever any doubt about China’s critical role in Bitcoin then yesterday it was crushed. The People’s Bank of China (PBoC) have, for the second time in a month, created enormous volatility in the Bitcoin market after they intervened in the operations of the top Chinese exchanges. The last 7 days of rallying was wiped out in its entirety following an announcement by OKCoin and Huobi.com that Bitcoin withdrawals would cease for at least a 30 day period.

The announcement comes after the Chinese central bank applied pressure on these Bitcoin exchanges to clean up their act; demanding that better regulatory checks were put in place to help enforce capital controls and money laundering legislation. While such regulation was not entirely unexpected following earlier events in January, the shock was enough to send the Bitcoin price plummeting by over 10% before making a small recovery.

The PBoC’s intervention has cast further fear over China’s ability to crush the price of Bitcoin through crippling regulation. Bitcoin maximalists would argue that the cryptocurrency’s value lies in its free market principles and increased levels of privacy; on the other hand, many advocates of Bitcoin consider this move to be a positive step in legitimising Bitcoin and helping to reduce price volatility through a solid regulatory foundation. Those interested in a conspiracy may theorise that insider trading is at play. Should China perceive Bitcoin as a the next global reserve currency, reducing the price and purchasing stacks of Bitcoin “while it’s cheap” may be a shrewd (yet highly illegal) move by the Chinese government.

Despite some negative shocks to the price of Bitcoin, the currency is up by well over 150% year on year and even this latest decline has only put Bitcoin back by 8 days. With the possible approval of the first Bitcoin ETF coming up in March, who knows what will happen to the price in the weeks ahead.

Steep Decline for Bitcoin

Published January 12, 2017

On January 6th 2017 Bitcoin entered a steep drop in price after a rapid (and steeper) climb upwards just weeks before. At the time of publication 1 Bitcoin was worth £655.18, nearly 30% lower than it was just days ago (although worth adding that it is also up 6.5% from the same time last month). The reason for such volatility is likely due to some unsettling news coming out of both China and the USA which might hint at a cause for such shaky hands.

People’s Bank of China (PBOC)

Samson Mow, COO at BTCC (one of the largest Bitcoin mining pools in China) made this Tweet days after the price of Bitcoin sharply declined. At the same time, the PBOC announced that they were conducting investigations into the operation of BTCC and other Bitcoin exchanges – leading to widespread speculation that China was looking to heavily regulate, or potentially ban, the cryptocurrency.

Reassurance from BTCC and other key players in China has done little to abate the panic. Many in the Bitcoin community have taken a positive view of the investigations, stating that better regulation in Bitcoin markets across the world will help reduce price volatility.

Bitcoin ETF

With the PBOC dominating the headlines across most Bitcoin media, a little known development in the Winklevoss Brothers’ plan to launch a Bitcoin exchange traded fund may be another clue to the falling price. The deadline for the SEC to make a decision on whether to approve the ETF was set at the end of last year, but a changing climate after the US election pushed the deadline back to March 11th 2017.

After launching their Gemini cryptocurrency exchange a couple of years ago, the Winklevoss twins were considered to be headed straight towards ETF approval and a potential injection of half a billion dollars into the Bitcoin market. The outlook on the ETF was extremely positive – particularly given Bitcoin’s steady growth and adoption throughout 2016. It was not until November/December of last year that a sudden and dramatic rise in Bitcoin’s price spread doubt over the SEC’s willingness to approve something so volatile. The ETF is looking like it may not be won so easily.

Bitcoin Breaks Pound Sterling All Time High

Published December 22, 2016

The price of Bitcoin in the UK is trading at an all time high of £706.55 at the time of publication. Higher than that of the December 2013 bubble which saw the GBP price of Bitcoin peak at £699.93. While the dollar price of Bitcoin ($874.34) has some way to go to break through its own all time high of $1216.73, a combination of a weakening pound sterling post-Brexit and a strengthening of the US dollar following Trump’s election in 2016, has fast-tracked Bitcoin to its new all time high – welcome news for all Bitcoin investors in the UK.

Bitcoin owners who purchased 100BTC at the beginning of 2011, would have paid in the region of £20. That £20 investment is now worth in excess of £70,000 – an ROI that makes “comparable” investments such as Gold and Silver, seem a little pedestrian. Bitcoin has had the highest sustained growth of any asset class of the 21st century, and doubts over the cryptocurrency’s longevity are fast subsiding. Bitcoin is not only demonstrating itself as a viable investment vehicle; its underlying protocol (blockchain) is shifting economic and societal paradigms through its “programmable money”, unlocking a world of new commercial (and non-commercial) innovations.

Bitcoin’s road to this sterling all time high has not been a smooth one. The price of Bitcoin has regularly fluctuated by 2-figure percentage points, with crashes that have been as large, if not larger, than the rallies. While the past few years have been noticeably smoother for Bitcoin’s price, cryptocurrency investing in general remains one of the most high risk asset classes in the global market.

BitcoinPrice.co.uk Launches

Published October 27, 2016

Whether you’re big block or little block; off-chain or on-chain, there’s one thing we all have in common – a complete and utter fascination with Bitcoin’s price.

For years, Bitcoin has hit the headlines for its roller-coaster of a price. It’s been a wild ride, and as Bitcoin’s market cap continues to grow in value, we can only expect it’ll get wilder – but we love it.

Check back at BitcoinPrice.co.uk for the latest price update along with key metrics on the day’s movements and longer term trends. I built this site out of a need for a simple mobile-first Bitcoin to GBP price – whack this URL on your smartphone’s homescreen for ultimate viewing pleasure.