November 28, 20173min461

Bitcoin reached $10,000

Bitcoin now costs more than $10,000 as the world’s biggest cryptocurrency reaches five figures for the first time in its history.


Bitcoin increased by 1300% in 2017

A single Bitcoin cost around $10, 037 and even more in some markets.

The move beats even the more optimistic expectations from industry investors and forecasters and continues a phenomenal year that has seen Bitcoin increase. Some experts predict that Bitcoin will grow to more than $3,000,000 to the end of 2022.

Despite multiple obstacles from the likes of Chinese regulators and hard forks of its own network, BTC has still not finished 2017’s success story. Its run from $5000 to $10,000 was very impressive, taking place in a few months and including several significant corrections.

The historic boundary crossing came with a broad celebration from users and industry figures alike.

CAN WE TALK ABOUT THE BUBBLE?

Last week, even as BTC remained between $7000 and $8000, a survey showed that the rapid price movement had served to reduce the number of people who thought it was in a bubble.
39% of respondents described prices as such, compared with 51% in May, when the same survey appeared when BTC cost around $2200. In a separate achievement, the combined cryptocurrency market cap has also passed $300 bln for the first time. Bitcoin’s share stands at 53.5%.

The optimism failed to stop the mainstream press naysayers, however, who continue to assert that a dramatic pop is on the horizon.

UK newspapers The Guardian and London Evening Standard both entertained bubble FUD in previous days, the latter describing Bitcoin’s push to $10,000 as the result of a bubble-based “frenzy.”

An analyst meanwhile told the Guardian Monday that anyone prepared to buy BTC at a higher price than before was the “greater fool.”

What are your predictions about Bitcoin growth? Leave us a comment below!


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