Only a few days have passed by and Bitcoin is up another $1000. If this steep rise in the cryptocurrency continues, 1 Bitcoin will indeed be worth $100,000 by the end of 2018, as some wildly claim.
But let’s look at the daily chart of Bitcoin / US Dollar to find out where it stands today.
Currently, as read on the BTCUSD daily chart with data from Bitstamp, the price of Bitcoin bounced of a low of $15,500 few days ago, then passed the $17,000 level yesterday and is now testing $18,000.
It’s very interesting to see Bitcoin make such huge steps amounting to thousands of US dollars in a matter of few days.
It’s this type of price volatility that the central banks are warning Bitcoin investors about. Traders, however, can make money on these price swings.
It is expected that Bitcoin price will keep moving up as Futures trading continues and big regulated exchanges open their doors to Bitcoin.
I think Bitcoin has the potential and the market hype to touch $20,000 by the end of this year or very early in January 2018.
Time will tell.
Note. This post is for educational and entertainment use only and it is not an invitation to trade. Trading involves high risk to your capital.