Bitcoin is on an unprecedented run towards $10,000 and it could potentially hit it by the end of the year. The coin is currently up over 800% since the beginning of the year, and continues to rise every day.

The new high comes only a week or so after the currency broke $8,000 and only a month after the currency hit the new high of $7,000.


Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747


Many are asking the question as to why the currency is rising by so much. Some organizations have also begun to accept the technology as a part of their platforms which could help with its public adoption.

One of these companies is the large money transfer company known as Square. Square has begun to offer payment processing to buy and sell bitcoin through the app known as Square Cash. Although many companies are starting to embrace the new technology, analysts such as BTIG analyst Mark Palmer has still downgraded shares and has stated that the company’s stock rally is “overdone.”

The coin has not managed to fully break into the financial center but rather has done well in the public sector. Josh Brown from Ritholtz Wealth Management stated that Bitcoin is “officially an investor mania.”


Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747


Several factors in the price such as the CME listing of cryptocurrency futures during the second week of December, will help to continue to bump the price up to a high amount. Many investors have begun to sink money in as they fear missing out on such a great opportunity. This could help to drive another frenzy of buying. The hopes are high that this incremental gain in the currency will continue to rise as the end of the year comes and goes, and many more investors will choose to get involved in the space.

LEAVE A REPLY

Please enter your comment!
Please enter your name here