Bitcoin Breaks $8,000! New Record High
On November 19, Bitcoin breaks the $8,000 mark for the first time. This latest all-time high comes on the heels of several major announcements about large financial institutions beginning to enter the cryptocurrency markets.
Over the weekend, the first year-long contract for the price of bitcoin was agreed by traders on the LedgerX platform. The contract is an option to buy bitcoin at $10,000 by Dec. 28, 2018. This price represents the confidence in Bitcoin for the future.
In an interview with CoinDesk, LedgerX CEO Paul Chou expressed his belief in the beginning of a new investment trend.
“There will be, I expect, a lot more trades down the line. This is the first one, but it at least gives you the first guess from different institutional traders as to what bitcoin’s dynamics will look like from now until 2018.”
That guess is $10,000 per Bitcoin.
Recently, Crypto Learning Academy covered a story about former hedge fund manager at Fortress Investment Group, Mike Novogratz. Novogratz predicts Bitcoin will hit $10,000 by March of 2018.
Forecasting prices in the notoriously volatile cryptocurrency markets is difficult, however $10,000 Bitcoin could come sooner than we think. The adoption of Bitcoin by mainstream investors will continue to put upward pressure on prices. It is clear that the returns being generated by Bitcoin have become too good for fund managers to resist.
Even, long time Bitcoin bears are turning into raging bulls this year, as they continue to watch the price rise. Bitcoin has proven to be more resilient than anyone could have foreseen. Nothing seems to be able to slow the growth of the world’s first cryptocurrency. Bitcoin breaks $8000 clearly is a statement people are getting on board with the rise of cryptocurrency.
Bitcoin $10,000 Is Coming. Win Some of That!
Expect more investors to jump on the Bitcoin bandwagon as the race to $10,000 continues.
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