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Bitcoin Unstoppable Nearly hits Price of 10k

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The total market capitalization for the cryptocurrency market has exceeded $300 billion for the first time. That’s a milestone that’s not about to get as much press as Bitcoin hitting $10,000. At the current rate, 13k by 2018 is within reach.

Bitcoin’s price will be interesting to watch, at it rose up to $9,372 at its recent latest high, before dipping back down to $9,532, it seems like just yesterday that we were impressed by BTC breaking through the 8k mark.

The price of bitcoin seems destined to rise while it continues to act more as a collectible than a currency. This as even in Japan Bitcoin is already a currency in thousands of retail storesEthereum has also hit as high as $485 this past weekend.

As it starts to become difficult for any government to simply dismiss Bitcoin, and fiat currencies themselves seem like an endangered species before morphing on to the blockchain to take their rightful cryptocurrency forms, regulatory bodies can’t keep up with how quickly crypto and ICOs are entering the mainstream. Bitcoin’s rapid ascent coincides with an influx of users of the largest platform for buying and selling cryptocurrencies in the US.

For a limited finite and mined altcoin, that’s purely a digital currency without any physical denomination, Bitcoin and the entire cryptocurrency ecosystem is challenging that status quo. Indeed, Bitcoin’s performance in November 2017 is notable, and perhaps the crescendo of a stupendous 2017 for the history of cryptocurrencies, ICOs and the advent of the blockchain itself.

Coindesk

What’s the Summit for Bitcoin?

For every correction, there has been a renewed surge and increased regulation has hastened this movement upwards, if anything.


Bitcoin’s amazing gains have helped drive the combined market value for all cryptocurrencies to yet another at new high of $285+ billion. Bitcoin’s market capitalization is now almost $151 billion.

For an altcoin that’s nothing more than what appears to be a commodity in a virtual interlinked computer network system, it’s not bad at all! Bitcoin is making us rethink what money and value are; and how important blockchain and especially decentralization is to a monetary system more aligned with trust, wealth equality and social justice. Amid speculation that job automation and AI might require the bottom 60% to be eligible for a basic income (UBI), one can hope that we get decentralized blockchain right, so that the AI that distributes our future UBI, gets it right.

Millennials are restless for a new paradigm of trust that blockchain may be able to provide, though it remains to be seen if non-decentralized blockchains can fulfill this function.

There will only be 21 million Bitcoin in existence and that creates a collectable that can only scale up in value indefinitely as demand intensifies. Whether that’s a ponzi scheme, a bubble or something else has been some of the most interesting debate in the history of economics in recent memory.

Crypto challenges us to think differently about the future of investment, crowdfunding, innovation and how the blockchain can spawn new industries and new jobs. Blockchain developers are one of the hottest assets for a future struggling to be born.

Interest in Bitcoin and Cryptocurrencies has surged also in terms of search on Google Trends. In the United States, Bitcoin remains the flagbearer of all interest in search related to cryptocurrencies and blockchain.

Google Trends

The returns of Bitcoin also depict an asset on the rise. Nothing quite gets the attention of the masses like the profit motive.

Things might get interesting when people start to look at the following returns in #Bitcoin:

2011: +1,724%

2012: +170%

2013: +5,838%

2014: -67%

2015: +37%

2016: +120%

2017: +701%

Crypto Milestones and Bitcoin Mania

Since 2015, that’s been a considerable investment to have and own.

Coinbase, which is a digital asset broker headquartered in San Francisco conduct broker exchanges of Bitcoin, Ethereum, Litecoin among other digital assets — now have 13 million users. To give you the kind of rage that this is getting, they grew their user count by 100,000 to 13.1 million from last Wednesday to Friday alone (Source: Alistair Milne, cofounder of Altana Digital Currency Fund). Interested in buying Bitcoins or another altcoin, this might be a good place to start doing research.

Think about it though, how long do you think it took Bitcoin to go up from 8k to 9k?

It took just seven days to go from $8,000 to $9,000, a milestone achieved yesterday.

Another way to look at this is Bitcoin is now the world’s 30th largest currency, Market Cap Nears Mastercard’s $171 Billion.

As around $10 billion of institutional money will soon be invested in the bitcoin market in months to come, this will likely push to increase the market cap of bitcoin by over a hundred billion dollars. Think about how high BTC can go then in 2018?

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