Why Bitcoin is Growing so Phenomenally? $110,000 Soon?
Bitcoin continues to amaze participants of the cryptocurrency market and the investment community by the unprecedented growth.
Even the most optimistic short-term price expectations look conservative now, because the bitcoin price reached $11 000, and in some markets, it reached the magic $15 000.
Can you realize how bitcoin rose? The most popular digital currency becomes an economic miracle available to everyone depending on where you are and who you are. In honor of Bitcoin reaching the new heights, here are three things you didn’t know about the leading digital currency:
“I've been charting parabolic trends for a long time. I use curved lines and not linear lines because direct lines are for non-exponential trends. When I draw the trajectory of BTC intersecting all tops and all bottoms, this is what I get.” said Parabolic Trav in his Twitter account (@parabolictrav).
From the trends analysis, bitcoin has always represented something unknown. Cycles of rapid rises, followed by severe adjustments made everybody ambiguous to evaluate his future, except the staunchest supporters.It can achieve an unthinkable $110 000 until the next correction
The ups and downs gave a reason to the traditional sources of investments to predict the inevitable final destruction of bitcoin. Its price would fall to $0 and permanently deprive "unreasonable" passion.
Anyway, the price has risen to $11000 and confidently goes up further, that’s why the forecasts have been thoroughly revised.
The so-called "parabolic trend," which recently seemed eccentric, is now the subject of serious consideration.
As writes in the account Parabolic Trav, now a five-digit bitcoin does not scare anyone; instead, it is only the top (or base) of a giant iceberg. “When I draw the trajectory of $BTC intersecting all tops and all bottoms, this is what I get,” Trav wrote, commenting his trajectory for Bitcoin prices. It can achieve an unthinkable $110 000 until the next correction.
Bitcoin is $11 000
Bitcoin will go up because demand is very high and the supply is limited. In 2017 India has become one of the best examples in the world beginning of the currency reform in November 2016.
The South Asia continues to increase the bitcoin price on the national markets to $15,000. Despite the dramatic dependence of Venezuela from fiat alternatives, on time forcing out India of the headlines mention.
Unocoin, one of the Indian exchanges of "big three" along with Zebpay and Coinsecure, is requesting approximately 700 500 rupees ($10 800) for one bitcoin.
It says about the growing trend for countries where stock markets go every month hundreds of thousands of new users.
Bitcoin in the TOP 30 world currencies
Bitcoin is among the top ten global currencies surpassing the market capitalization of the nearest neighbors Finland and the United Arab Emirates for December 2016.
According to Coinmarketcap, now this figure is $155 billion that is much higher than Ethereum $44 billion. Now the currency is ready to challenge Ireland and Denmark.
Bitcoin is sharply changed over the last 12 months because of pressure from China gave rise to periods of high uncertainty. However, the bitcoin growth criticism becomes less noticeable.
Experts predicted that bitcoin could overcome the barrier $14,000 by the end of 2017. Their predictions came true. It is the ninth record bitcoin has taken in 2017. In less than 9 years bitcoin exchange rate increased from $0, 00076 up to $ 11,000. Now you can bet when bitcoin will become six-figure. Those who bought it in January for$ 1000 or in summer for 2500$, is whipping the cat now and calculate lost profits. But the possibility of obtaining high revenues in this area continues, because $10 000 is not the limit for bitcoin. Now the total market capitalization exceeded $300 billion.
The launch of futures for cryptocurrency from the exchange CME Group is the growth mover in the bitcoin value at the moment. It makes bitcoin available for trading for everyone.
But if you think that the cryptocurrency market is overheated, the next year prices will rise even more. The boom in cryptocurrency markets is just beginning.
The former manager of the hedge funds Michael Novogratz, who previously predicted bitcoin’s price $10 000 by the end of 2017, said that bitcoin would cost $40 000 until the end of 2018.