Bitcoin Made It To $10,000 - Increased 1,250% In 12 Months - What Next ?

11/28/2017 - 12:44 UTC
Bitcoin Made It To $10,000 – What Next ?

As 2017 ends, Bitcoin has set a new all-time high breaking the psychological barrier of $10,000. At the time of writing, the bitcoin price was at $10076.40 increased by 4% in the last 24 hours.

As JustCryptoNews.com has reported, Bitcoin hit the 9,000 mark only a couple days ago, on November 26. But even then, markets seemed ready to push for the 10,000 barrier. It did not happen yesterday but it did happen today and Bitcoin is finally above $10,000.

2017: The Year of Bitcoin

What a breakthrough year 2017 has been for for the world’s original cryptocurrency. As the chart below shows, the price of one bitcoin was around $900 in the end of January, but it is now 10X higher!

Bitcoin YTD 10000

At the same time, the market capitalization was a little more than 14 billion dollars on January, but that too has increased ten-fold to over 168 billion dollars at press time!  Bitcoin’s $168 billion value means it exceeds that of about 95 percent of the S&P 500 Index members. It has already higher value than Pepsico ($165 billion), Boeing ($158 billion) and McDonald ($135 billion).

As 24h volumes suggest, people are buying and selling bitcoin like crazy. On January 27, the 24-hour volume of bitcoin transactions was a little more than $140 million. At the time of writing this piece, the 24-hour volume is almost 5.5 billion dollars!

Today’s infographic from Blockchain Intelligence Group visualizes the ups and downs of Bitcoin on its journey to $10,000.

Bitcoin Journey to 10,000 dollars

Nobody really knows what will happen next. Bitcoin could continue its frenetic rise to the moon, as some cryptocurrency enthusiasts predict, but it could also show some minor retraction as some investors might sell to have short-term gains. What do you think?

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general.