So Long, $10k: Bitcoin Price Unstoppable As $11,000 Becomes New Benchmark

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Bitcoin has reached $11,000 just hours after major exchanges saw $10,000 come and go.

Despite hitting $10,000 among major exchanges just hours ago, Bitcoin has already tackled $11,000 as markets show no signs of slowing.

The first hours of Wednesday saw $10,000 come and ago on Coinbase, Bitstamp, Bitfinex and others, with trading continuing to just below $10,700 before a correction.

That correction was short-lived, however, with Bitcoin then passing that mark to first hover around $10,750 and then continue to the next barrier soon afterwards.

Both Bitcoin’s rate of growth and comparative lack of volatility 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 bubble warnings in the mainstream press contrast with investment sources at a loss as to how high Bitcoin could go in 2018.

BTCC CEO Bobby Lee even took a randomized approach, basing his $48,000 prediction on the number of his Twitter followers.

My new price target for #Bitcoin is USD $48,000.

Will it take ~7 months to reach that?

(My #PriceTarget for $BTC is the same as my number of followers on @Twitter.) https://t.co/2k4YBkar2n

— Bobby Lee (@bobbyclee) November 29, 2017

Meanwhile, Tone Vays, the technical commentator who has seen his short-term tips come true with remarkable accuracy in recent months, said that $12,000 would now come “quickly” due to profit takers having completed their activity.

At the time, Bitcoin was still at $9900.

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

— Tone Vays [#HODL] (@ToneVays) November 29, 2017 

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Author: William Suberg

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