Bitcoin Reaches $10,000 For The First Time

Data from Coinmarketcap covering multiple major exchanges confirms that on average, a single bitcoin costs around $10,031 and even more in some markets. Prices on individual exchanges for BTC/USD range from an ultra-conservative $9774 at CoinsBank to $10,197 at Gatecoin.

The move beats even the more optimistic expectations from industry investors and forecasters and continues a phenomenal year that has seen BTC increase in value more than 12 times over.

Bitcoin is up 1,195% in the past year.
Price targets for the next 5 years assuming it maintains that growth rate…
Nov 2018: $121,717
Nov 2019: $1,576,056
Nov 2020: $20,407,680
Nov 2021: $264,250,362
Nov 2022: $3,421,665,147

Despite multiple hurdles from the likes of Chinese regulators and hard forks of its own network, BTC has still not finished 2017’s success story. Its run from $5000 to $10,000 was particularly impressive, taking place in a matter of months and including several significant corrections.

The historic boundary crossing came with broad celebration from users and industry figures alike.


Last week, even as BTC remained between $7000 and $8000, a surveyshowed that the rapid price movement had served to reduce the number of people who thought it was in a bubble.

39% of respondents described prices as such, compared with 51% in May, when the same survey appeared when BTC cost around $2200.


In a separate achievement, the combined cryptocurrency market cap has also passed $300 bln for the first time. Bitcoin’s share stands at 53.5%.

The optimism failed to stop the mainstream press naysayers, however, who continue to assert that a dramatic pop is on the horizon.

UK newspapers The Guardian and London Evening Standard both entertained bubble FUD in previous days, the latter describing Bitcoin’s push to $10,000 as the result of a bubble-based “frenzy.”

An analyst meanwhile told the Guardian Monday that anyone prepared to buy BTC at a higher price than before was the “greater fool.”

Where do you think Bitcoin is headed after $10,000? Let us know in the comments below!

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