The steady rise of bitcoin prices continues to march on, as prices rise further today.
Another 3.64 percent was added to the price of BTC today, pushing the current total up to $9,698.12, as of 3pm.
The cryptocurrency market is a flood of green this week, with most other digital tokens also seeing an increase.
Ethereum is up past $803, Ripple jumped four percent to trade at $0.906 and Litecoin rallies to $162.71.
Cardamon has leapt up into the top six cryptocurrencies over Litecoin, trading at $0.358, with a market cap of $9,288,061,895.
Why is bitcoin rising?
Bitcoin looks to be back on track, as a bullish market drives prices up throughout the tail-end of April.
May has been a strong month for the cryptocurrency, which has regularly jumped up by more than $100 in price every day for the last seven days.
A contributing factor to this positive drive is a more widespread adoption to BTC development.
Bitcoin has always struggled to recruit new developers to collaborate and work on the currencies open-source code, improving transaction processes and upgrading the crypto’s software.
Recently, there has been a significant rise in the number of contributors working on the code, with at least 21 code submissions approved by new developers in the last 50 days.
In bitcoin’s chequered history, the vast majority of its code contributions have come from a hardcore group of bitcoin veterans, but the rise in number correlates directly with the currencies increased viability and acceptance in the finance world.
A number of high-profile investors and turned crypto-sceptics, including the Rockefeller family, have eased worries for the vast majority of potential investors, opening the flood-gates to new traders.
Ferdinando Ametrano, a professor at Politecnico di Milano who has served as a program director at bitcoin developer conferences, told CoinDesk: “Many educational and training efforts have lately helped to introduce new developers to Bitcoin Core and the bitcoin software ecosystem.”
Ametrano is referring to groups such as Chaincode Labs, a New York-based program that recruits and trains cryptocurrency developers.
Another possible contributor is Jimmy Song’s Programming Blockchain Workshop, which has found the high-profile developer and Blockchain Capital partner teaching roughly 250 people since the workshop launched (in multiple locations across the U.S.) in September.
And demand has been so high that he’s offering a few more sessions over the next few months.
Song said: “Growing the developer team, in numbers and in quality of contributions and everything else, is important because you need a diversity of views.
“You don’t want it to just be a couple of people that do everything.”