Just last week, Mike Novogratz predicted that bitcoin would hit $10,000 by the end of the year. At the time BTC had already broken $8,000. Tim Draper, venture capitalist, also predicted the $10,000 swell as far back as three years ago when a single Bitcoin only cost $424. As of this writing, BTC has passed $9600. As of this writing Monday before noon, Bitcoin has jumped just over 4%, a full $375, since yesterday. The price of Bitcoin has jumped nearly 17% ($1,379.47) since this time last week.
If things continue at this rate, breaking the $10K milestone before the month is out is possible and before the year is out quite likely.
Holy Bitcoin! This is Bitcoin’s growth over the last 12 months, versus the Nasdaq in the 12 months to the top of the 2000 dot com bubble. pic.twitter.com/SoCvXWCMDB
— John Authers (@johnauthers) November 27, 2017
Charles Hayter of the cryptocurrency data analysis service Cryptocompare spoke to Reuters, “$10k is on the cards and bitcoin seems to be straining at the leash to reach it.”
Some feel today may even be the day that BTC breaks the “psychological milestone” of $10,000.
— Cointelegraph — Bitcoin and Cryptocurrency News (@Cointelegraph) November 27, 2017
Bitcoin, like any investment poses some risk and one of the reasons cryptocurrency is considered especially risky is the fact that it is a relatively new market that is only just now receiving positive attention from the mainstream. Regulations, hackers and good old fashioned market volatility are all possible concerns when investing in any cryptocurrency. That said, with BTC up 17% since last week, 27% growth in 7 days with Ethereum and 24% growth over the week from Litecoin, it’s looking like it may not be too late to get in on the cryptocurrency game before it levels out and trades more like a commodity like gold, silver or currency.
Investing in cryptocurrency has never been easier either. CoinBase and BitPanda are two well known platforms for buying and trading crytpocurrency. CoinBase allows you to fund your buys via a bank account or debit card. Cautious investors warn that this sort of growth at best may be a sign crypto may peak and level off. There’s also the worry that after all this recent intense growth, we’ll hit a bubble. Investor interest seems as if it will continue to grow with the cryptocurrency game going mainstream though. Coinbase, the largest U.S. BTC exchange, reported around 100,000 new accounts added around Thursday’s Thanksgiving holiday.
For disclosure’s sake, I am currently a cryptocurrency trader with a very small amount invested in BTC and Litecoin.