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Bitcoin Holds Over $500 For Six Months

Bitcoin has held at a value of over $500 for a record six months, according to pricing indexes. Having breached the $500 valuation back in May, strong trading through two consecutive quarters has seen the currency maintain its highest level on record, as both companies and consumers increase support for the value of the currency.

The news comes in a key growth phase for bitcoin. First released in 2009, it has gone on to be adopted as a de facto currency for online trade, with a number of mainstream online platforms embracing the currency as an acceptable means of payment.

The underpinning blockchain technology is now finding increasing support throughout industry, as more people switch on to the merits of a decentralized, fully digitized currency option.

While the currency has previously surged far in excess of the $500 valuation, the six-month trading time frame highlights a consistency in valuation that has so far proved elusive. At its highest, a single bitcoin was worth $1,165.13 in November 2013. At the time of writing, it remains above $730.00.

Bitcoin has traditionally been plagued by volatility, as investors have struggled to maintain a consistent picture of its true market value. The six-month time frame marks a considerable maturing of the currency, introducing a level of stability some investors feel is required to make it a reliable denomination.

The news will be welcomed by early adopters and investors alike, as well as those organizations already trading in bitcoin.

The technology powering the currency is now being adapted to a range of commercial and third-sector applications, with substantial investment in blockchain startups and research projects from organizations spanning various industry sectors.

The recent stability has also silenced critics of the currency who have been historically inclined to view bitcoin as unstable, volatile or baseless. With the price of bitcoin steadily trending upward since late 2013, it looks as though it might now be finding a more established basis for determining value relative to other major currencies.