Bitcoin breaks the US$10000 barrier for the first time, hits high of US$11377
Bitcoin value movement over the last week. (Source: Coindesk)
Bitcoin's meteoric rise jumped sharply from last week as it moved from around US$8,000 to a high of US$11,377. This is doubly impressive when you consider that on new years day the cryptocurrency was sitting just under US$1,000
Bitcoin is continuing its meteoric rise as it breaks the US$10,000 barrier this week for the first time. In fact, it actually smashed this hurdle as it pushed its way up to a high of US$11,377 in the last 12 hours, although it has slipped back a bit and the previous six hours has seen it move from US$10,598 to US$9,729. The daily low was. US$9,290.
The path to this point is just as impressive as the value itself. The US$9,000 mark was met only three days ago, and it wasn’t far above the US$8,000 figure through all of last week. On 1st January 2017 Bitcoin had a value of US$1,000, but during a year full of financial experts claiming that Bitcoin is in a bubble and that it will crash anytime now, we have seen it increase tenfold (at the time of writing).
This isn’t to say that Bitcoin isn't in a bubble especially since a much more significant percentage of Bitcoin users are now speculators and traders instead of actual users of the currency. Whether the bitcoin market is going to continue to grow strongly, find an equilibrium, or crash violently is something which will be debated hotly around the web and in the finance world. Regardless of whichever outcome becomes a reality, it’s exciting to watch bitcoin develop.
Craig Ward - Tech Writer - 397 articles published on Notebookcheck since 2017
I grew up in a family surrounded by technology, starting with my father loading up games for me on a Commodore 64, and later on a 486. In the late 90's and early 00's I started learning how to tinker with Windows, while also playing around with Linux distributions, both of which gave me an interest for learning how to make software do what you want it to do, and modifying settings that aren't normally user accessible. After this I started building my own computers, and tearing laptops apart, which gave me an insight into hardware and how it works in a complete system. Now keeping up with the latest in hardware and software news is a passion of mine.
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