BTC hits $11,000 in the Financial Market
Despite the fact that BTC hit $10,000 among major cryptocurrencies just few hours ago, Bitcoin has already catapulted to $11,000 as markets show no signs of braking. The first hours of Wednesday saw $10,000 come and go on Coinbase, Bitstamp, Bitfinex and others, with trading continuing to just below $10,700 before a correction. That correction was temporary, however, with Bitcoin then passing that mark to first hover around $10,800 and then continue to the next barricade soon afterwards. Both Bitcoin’s growing rate and comparative lack of transitory are unprecedented in its history.
Prices are up almost 1500% in 2017 alone, with expectations by even the more optimistic forecasters now seeming modest.
New warnings in the mainstream press contrast with investment sources at a loss as to how high Bitcoin could reach by 2018. BTC China CEO Bobby Lee even took a unsystematic approach, basing his $48,000 prediction on the number of his Twitter followers. He Tweeted “My new price target for #Bitcoin is USD $48,000. Will it take ~7 months to reach that?”
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Meanwhile, Tone Vays, the technical commentator who has seen his short-term tips come true with remarkable accuracy in recent months, said that;
“Will go live in the AM w/ @jimmysong, sorry guys been a long day. Tomorrow on @cnbcafrica w/ @cryptomanranu u will hear me say: “#Bitcoin is spending so much time btwn 9.5-10k that once we bust out over 10k, 12k will come quick cause all the profit takers have exhausted” $BTCUSD”
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