The numbers don’t lie. Bitcoin is flying right now, having skyrocketed through the $15,000 mark, growing by $3,000 in just 24 hours. There is no other realm of investment in recent history that can even hold a candle to Bitcoin’s astounding progress. Going from a cryptocurrency of niche interest to a powerful asset that has the world talking, the rise of Bitcoin has been nothing short of breathtaking.
Having tracked Bitcoin and its astounding development, the cryptocurrency has broken every record put before it, even outstripping the expectations of the BitStarz team. While it’s great to see Bitcoin blow away market scepticism, nothing could have prepared anyone – even the most ardent of Bitcoin backers – for the past 24 hours. Having hit $10,000 and $12,000 in the days prior, the rise to $15,000 has stunned the world. Much like others, we didn’t think that Bitcoin would hit this landmark figure so quickly, let alone just 24 hours after smashing through $12,000 barrier.
Bitcoin road to $15,000
The past few weeks for Bitcoin have been something to behold, so it’s certainly worth looking at what’s happened and taking in this cryptocurrency’s outstanding performance. The road to $15,000 started during the closing weekend in November, when Bitcoin conquered resistance, pushing past both $8,000 and $9,000 in mere hours. Coming off the back of a few sluggish weeks, the rumblings began, could Bitcoin push past $10,000 before the year was out? Within a few days, these rumblings becoming a reality, as Bitcoin blew past the $10,000 mark.
Bitcoin doubling in price in just a 28-day period.
Showing unstoppable momentum, the next target for Bitcoin appeared on the radar, would $15,000 before the end of 2017 be a realistic expectation? Much like every other target that Bitcoin has been faced with – and every level of resistance to match – it went on to beat it. This Wednesday $12,500 was topped, with the charge well and truly being on. Just 24 hours following this, Bitcoin put $13,000 and $14,000 in the rear-view mirror to hit $15,000 for the first time in history. Most cryptocurrency investors are pretty optimistic in nature, but few would have ever predicted this price explosion, with Bitcoin doubling in price in just a 28-day period.
New year-end targets?
Bitcoin may have been labelled a fad or a bubble in some circles, but it is quickly dispelling these tags. So, with the cryptocurrency showing increasing price power, many are wondering when Bitcoin’s rise will stop. The reality is that Bitcoin’s strength really isn’t showing any signs of fading, which makes sense considering that its price has jumped from $1,000 to $15,000 in an 11-month period. There simply may not be a limit on what Bitcoin can achieve, with new year-end targets of $20,000 and $30,000 not being out of the question. Plus, if the same pattern remains heading into 2018 we certainly wouldn’t write off a single Bitcoin being worth six-figures by this time next year.
Looking to stay on top of the exciting growth in Bitcoin? Then you’ve come to the right place. With the cryptocurrrency knocking on the door of $17,000 stick with BitStarz, as we will keep you up to date on the latest Bitcoin news and developments!