If yesterday we were wondering how much time will pass until the $15,000 mark will be surpassed, we now have other questions regarding Bitcoin. Because, well, the world’s most popular cryptocurrency required less than 24 hours for this to happen. Yes, in just one day, it reached another milestone and it doesn’t look like it’s going to stop soon.
Over the past few months, the coin surged from around $3,500 in mid-September to its current market value. In contrast, back in January, one Bitcoin was worth less than $800.
But what do analysts think?
Of course, all analysts are now looking forward to the next days, but they’re also uncertain regarding the cryptocurrency’s future. Also, it’s worth mentioning that it’s been a while since Bitcoin stopped being useful for buying things, mostly due to its rocketing value and the ridiculously slow transaction times. In this case, we’re all wondering if it’s just – yes, we’re using this concept again – a bubble about to burst very soon.
Some traders are predicting that the “end is near” and Bitcoin will stop growing, so they’re preparing to see a serious decrease in the future.
“It’s one of the greatest shorting opportunities ever,” said cryptocurrency expert Lou Kerner told earlier this week, according to The Verge.
“You have a lot of zealotry, and a lot of people, including me, who think it’s the greatest thing to ever happen in the history of mankind. You have a lot of people who think it’s a bubble and a Ponzi scheme. It turns out both of them can’t be right.”
Don’t get too excited, though…
However, despite the general trend for Bitcoin being up, the cryptocurrency has proven to be extremely volatile. Just a few days ago, its value managed to fall 20 percent in less than 90 minutes, dropping from $11,000 to $9,000.
Finally, after hitting the $15,000 mark today, its value dropped to $14,800 quickly. In this case, we’re only wondering if it will reach $20,000 by December 31st!