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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.



bitcoin price surge crmd business news

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.

You can track the trading value of BTC with the Coindesk Bitcoin Price Index and don’t forget to join the conversation alongside CRMD on Facebook and Linkedin for more news on business and technology.

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