Major Milestone Hit as Bitcoin Price Soars
Bitcoin price surpassed $10,000 in trading as the cryptocurrency surged upwards in Western and Asia markets. As of this month, the market valuation for Bitcoins jumped 875% from just under $15 billion in January 2017 to a staggering $156 billion. Yes, as in billions with a b.
BTC has potential to extend gains to $10,400 levels.
Source: Bloomberg via FT
Coindesk projects Bitcoin will likely topple the $10,000 mark with “potential to extend gains to $10,400 soon.” The climbing prices have sparked conversations of a “bitcoin asset bubble” amongst Wall Street and many in the cyptocurrency community. Michael Novogratz, a former hedge fund manager at Fortress, speaking at CoinDesk Consensus: Invest conference in New York thinks cryptocurrencies such as Bitcoin has the potential to be “the biggest bubble in our lifetime by a long shot.” Despite the lingering jitters about its volatility, transactions have not relent and buyers remain optimistic.
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