Bitcoin Price Reaches $16k+ Despite Bubble Warnings

Bitcoin–and the cryptocurrency industry as a whole–plunged this year, after a gravity-defying surge in recent years. The price of the digital coin hit nearly $20,000 late last year. And then.

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29/11/2017  · Bitcoin surpassed $11,000 in a matter of hours after hitting the $10,000 milestone, taking this year’s price surge to almost 12-fold as buyers shrugged off increased warnings that the largest digital currency is an asset bubble.

With Bitcoin at around the $3,400 level now, down from $19,783 at its peak, it might seem obvious that the bubble has burst. But if you listen to what they’re saying in cryptocurrency circles.

No, bitcoin and all the other hordes of cryptocurrencies, as an investment, are nothing more than a fad, a bubble. And if it hasn’t completely deflated yet, I’m convinced it will.

Back in 2017, it took only nine total days to reach $16,000 after $10,000 fell. If the same pattern repeats, Bitcoin price would trade above $16,000 starting at the beginning of July. As the analyst states, it can happen faster than most would anticipate and catch most by surprise – even despite it happening once already in the past.

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05/12/2017  · Burgos’ piece, titled “Bitcoin Price Projected to Reach $12,000 After Earth-Shattering Rally” suggested the introduction of bitcoin price-related futures at CME had caused the rally. That’s despite the coming futures products, also from CME’s competitors CBOE and Cantor , being cash-settled “bets” on bitcoin price that don’t deliver any actual BTC.