Bitcoin Reaches $11,000 In Less Than One Day After Its $10,000 Mark

Arnav Dhar - Jul 02, 2019


Bitcoin Reaches $11,000 In Less Than One Day After Its $10,000 Mark

Bitcoin has reached $11,000 in less than 24 hours after its $10,000 mark.

Bitcoin has just surpassed the $11,000 mark, the first time ever since March 2018. The biggest coin also reached up to $10,000 in less than 24 hours before that.

Bitcoin

By the time of this article, the coin has already had the price of more than $11,000, a drastic 13% jump from 24 hours before. In the meantime, other cryptocurrencies have also seen a great increase, including ETH, which surged to more than $300, a many-month high.

According to a recent tweet by the expert trader Peter Brandt, bitcoin is aiming to a $100,000 mark at price. As per him, the coin is "a market like no other" and is seeing its 4th parabolic phase since 2010.

Brandt also attached a chart to the tweet, which shows the general data about the leading currency for its nearly 10-year history. According to the chart, bitcoin had folded 9,756 times from Oct 2011 to Dec 2017, when it reached its highest peak ever.

However, the tweet came with many replies that are suspected to be scams, which presented fake cryptocurrencies giveaways from Brandt. Even a verified account tried to do this.

Bitcoin rise

Many people believe that Bitcoin and other cryptocurrencies are entering a staggering growth phase, as described by Digital Currency Group's CEO:

Quote

Others, like Kenetic's co-founder, it's likely that bitcoin will hit $30,000 as soon as the end of this year, in an interview later last month.

But not everyone thinks so. Tone Vays, an ex-Wall Street executive and blockchain researcher, showed skepticism about the near future of cryptocurrencies.

Recently, a report by Moscow-based cybersecurity company Kaspersky shows that 19% of globally surveyed people have bought cryptocurrencies.

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