World famous cryptocurrency, bitcoin, just hit the $10,000 mark a few hours ago in major exchanges all over the globe. One would expect that to be the only headline Bitcoin will be making today.
Just hours later and after a few corrections, bitcoin broke then $10,750 ceiling and before you know it, it breached the $11,000 mark. Bitcoin’s growth rate is unprecedented, and it is breaking all the milestones that were initially set.
In 2017 alone, bitcoin's growth rate is almost 1,500% and it has been proven as the most effective investment, returning 10,000 times the initial investment. The new burst has investors excited and many are setting new goals for the currency, with some stating that it will reach the $48,000 within seven months. However, amid all the excitement, fears of bubbles are getting stronger as many believe that bitcoin is overvalued and cannot be trusted. The volatility of bitcoin is no doubt scary, but bitcoin has proved to be a valuable investment up until now.
How it will react in the coming future? No one knows. It surely is a great day for investors who may have bought bitcoin at the price of $1,000 against the popular belief that it will ever be profitable. What is more exciting is that said investor would have bought the cryptocurrency just this January.
$10,000 No wait, $11,000. Bitcoin shows no sign of stopping!
Bitcoin’s growth rate is unprecedented, and it is breaking all the milestones that were initially set. In 2017 alone, bitcoin's growth rate is almost 1,500% and it has been proven as the most effective investment, returning 10,000 times the initial investment.
Published on Nov 29, 2017 16:15 By Danish Yasin