Bitcoin passes US$12,000 mark, could go beyond US$14,000 this week

Barely a full week has passed since Bitcoin broke the US$10,000 barrier, and the cryptocurrency is still appreciating in value, potentially going as high as US14,000 by the end of this week. Experts thought that the “10K” barrier would be harder to break due to so many traders contributing to the sell wall propped just under US$10,000. However, the price rally was so sustained that, even if traders managed to move record sums and bring the price to under US$9,000 for a few days, Bitcoin managed to stabilize and break even the US$12,000 mark (~US$12,500 currently).

Everyone was expecting Bitcoin’s price to explode after the US$10,000 threshold got toppled, but the cryptocurrency seems to have surpassed all expectations. Some specialists indicate that Bitcoin might have entered a parabolic feedback loop that pushes the price upwards in waves. This week’s wave should push the price to around US$14,000, according to a tweet made by Parabolic Trav.

This totally changes the predicted price for February 2018, when the BTC mining rewards will get halved. It was previously estimated that BTC would reach US$10,000 as the halving would go online, but since the “10K” barrier was already shattered, BTC could easily reach US$20,000 by February next year, if the parabolic feedback loop still holds, that is.

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