With the previous $10,000 barrier being surpassed a little over a week ago, we now know there’s no stopping Bitcoin from hitting new all-time-highs in the near future.
$10,000 by year-end target achieved
When the Bitcoin hype picked up momentum in the middle of this year, everyone was predicting that it has a huge barrier to break at $10,000 by the end of 2017.
With the $10,000 target breached on December 1st, Bitcoin has now more than doubled in just a week’s time.
50% gain in 7 days
Now, that is a huge gain by all means. With this Bitcoin broke every known barrier possible, passing the $15,000 mark in such a short span of time.
29% drop last month now forgotten
It was just last month when Bitcoin’s price dropped by 29% due to the proposed SegWit2x upgrade to the bitcoin network that was canceled.
This resulted in a huge drop in price which also happened to be the third time it happened this year.
Market Capitalization of $256 Billion
If we take into consideration the latest Bitcoin price, it would have made it into the top 20 of S&P 500 list of companies. It would be hanging out with some of the big boys like Apple, Amazon, Facebook, and Microsoft. It sure seems like a dream come true for many.
Where to draw the line then?
With Bitcoin gaining more attention these days, the price will motivate more people to join in, which in turn will raise the price even more. It is like a cycle, as long the euphoria of owning a piece of the pie is still there.
It is said that this cycle will continue well into next year.
A bubble on the horizon?
That’s what everyone is saying these days, but we seem to be further away from that date for now. But one thing is for sure, Bitcoin is not for the faint-hearted…
Category: Team WhaTechCompany profile: Tech junkie by profession and passionate about anything from the digital world, movies, games and reading. He loves writing and hopes you enjoy his writing as much as he does. Eza, is also known as Don in the virtual world, but don’t him me wrong, he's not a mafia type he's really a nice chap and a devout family guy.