The Impossible has just happened, the hottest cryptocurrency in the market, Bitcoin has officially crossed $10,000. Even ignoring the fact that it’s a whopping 1271.28% increase in the last year alone, the idea that a decentralized digital currency is being adopted massively is definitely worth celebrating.
The push from the Bitcoin rally also has shown an effect on other Cryptocurrencies like Litecoin which is now trading closer to $100. While the bitcoin early investors rejoice, the sceptics still call it big massive bubble and say there wi be a market correction.
Assuming that there’s a correction, there is more chance that it will reach its true value back now more than ever. Majority of the major news outlets have been aggressively covering the Bitcoin price of $10K which even if adds more users who buy in, the price would definitely adjust back to its true value.
As often as the media kills the Bitcoin and it’s utility, it also loves speculating on what’s next. Most of the bitcoin early adopters predict that the Bitcoin value will reach $50,000 by the mid of the next year. Time will tell if this sounds crazy, but if past is any indication, I think it’s not so crazy to assume it can be at $50K in 6 months.
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