BitcoinPrice

Segwit Activation: 24.36% 95% threshold
BTC =

£722.51

0.22

Today's High

£733.18

Today's Low

£713.18

Today's Change

£1.61

Market Cap

£11.64B

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.