The world’s most popular cryptocurrency, Bitcoin, is breaking record after record. This weekend, it has officially hit the $9,000 mark, thanks to the massive user adoption from hedge funds, as well as the upcoming future markets and further increases in the number of users, says CoinTelegraph.
A few days ago, a lot of redditors on /r/BitcoinMarkets expected the price to drop over this weekend, since a lot of banks in the United States were closed, due to Thanksgiving.
Hover, the price continued growing strong, after consolidating the $8,000 mark last week. It did went under this mark twice, until $7,800, but these two dips were rapidly bought.
As expected, on Black Friday, people didn’t just buy TVs and electronics, but they also stocked up on Bitcoin. The price started going up on Friday, but the record was broken on Saturday, when the coin reached $9,000, an historical high.
Recently, a lot of financial experts claimed that the coin is actually a bubble. This should’ve caused a price decrease – a so-called “blow off top” – but it didn’t happen at all. Usually, such bubble cycles end up with a massive price increase, immediately followed by an even larger sell-off.
Investors and not only are now looking forward to seeing Bitcoin surpass the $10,000 psychological barrier. However, this could happen sooner than expected, considering that the combined price of Bitcoin and Bitcoin Cash already exceeds $10,000.
As a side note, anybody who owned any amount of the coin prior to August 1 and didn’t sell their Cash is already taking advantage of this high price surge.
What’s interesting is that analysts believe that the value could go as high as $14,000!
As you probably remember, this fast growth started as soon as SegWit2x was cancelled, and it doesn’t show any signs of stopping. At this very moment, one Bitcoin is valued at $9,271.05.