Bitcoin’s New Adventures in Cryptoland
Last week on November 21, fund manager Mike Horovatz said that Bitcoin will end the year at $10,000. And just 8 days later Bitcoin did do it. On November 29 for the first time Bitcoin surged to $10,000 on CoinDesk’s Bitcoin Price Index (BPI). And it continued its wild ride having surpassed the $11,000 mark by 12:50 UTC that same day with the capitalization at $186 bln.
Since the beginning of the year 2017 the fabled cryptocurrency’s price increased almost 12-fold. And, having hit a $9,000 mark this weekend, the “digital gold” has finally gained mainstream market potential. In doing so, Bitcoin seems to have defied the warnings of those predicting the so-called “Bitcoin bubble”.