28 Dec Bitcoin Rose to an Enormous Level above $8,000 to Surge New Heights Of Success
Since the start of 2017, it was seen that the hype of Bitcoin was on a drastic growing scale. Earlier in November, Goldman Sachs predicted the price of Bitcoin surpassing $8000 which it did eventually on November 16. Further, this value took a sudden turn and rose to greater heights at a price of $8100, within three days later. Well, this achievement was quite extraordinary and must have benefited millions of Bitcoin users all over the world.
No Stopping for Bitcoin
After a sudden dripping of Bitcoin’s price below $8,000 by the ending of November 19, there was still a great rise to $8,200 back on November 20 which showed the power of this digital currency. As of now, Bitcoin is worth $8274 according to reports.
According to several reports, the recent up-downs in the price of Bitcoin were due to the involvement of several types of developments. In October ending, CME Group which is the world largest exchange owner opened up on the matter of Bitcoin trading.
In addition, a controversial hard fork of the bitcoin blockchain was suspended in the early November. As a result of which, the Bitcoin Classic closed down in the favor of Bitcoin Cash.
With such controversies going all over the world, still, Bitcoin stood on its firm hold and is still on the rising scale.
A Volatile Future
If we see the past few months, Bitcoins have broken every record and have risen to a level of success and glory. Every day, their values are on the increasing scale and Bitcoin traders are enjoying the lure benefits of Bitcoin all the way. Since August, the value of Bitcoin’s price has been doubled which is an extra bit mark in the 21st century.
Slowly, the Bitcoin will form the mainstream currency as being said by some of the experts who have been researching on this digital currency for quite a long time. On the other hand, Critics too had their opinion. According to them, they believe that Cryptocurrency is just a bubble and get soon blow off within no time.
With the involvement of many predictions there have been multiple opinions on the same issue and is the debate for years. Most experts feel that the price of Bitcoin will go high in the upcoming future. A former Manager from the Fortress Investment Group hedge Fund suggests that it could level at a level of $10,000 by the start or the first half of 2018. That’s a relatively moderate call where the veteran trader thinks of the Bitcoin rising to at least $15,000 before the end of 2017.
However, if we talk about the future, the sky seems to be pretty clear for Bitcoin. In the Long run, it is estimated that the price of Bitcoin could reach $20,000 to $25,000 in the next four to five years. Being said that, only the time will tell what the future has for Bitcoin and the benefits it will bring for traders are still a kind of mystery.