Look everybody, it’s the Bitcoin Rocket of financial justice going to the moon! I’ve been following Bitcoin for a while, reading commentaries and analysis by many financial experts and nobody predicted $10,000 before December!
However, many analysts predicted it would reach $10,000 before the end of the year. Imagine their surprise.
Bitcoin has completely smashed through the highly anticipated $10,000 barrier and moved to reach $10,854 within 24 hours.
Within the last 5 days, Bitcoin went from $8,500 to 10,854 which is $2000 increase.
That is absolutely astonishing.
So much in fact, that it kind of makes everyone wonder whether Bitcoin will have equally spectacular fall.
But will Bitcoin really fall that hard?
As worldwide acceptance grows and money from funds starts to pour in, the price of Bitcoin will most likely keep growing as the US dollar’s value declines.
There is only a limited number of Bitcoins, 21 million to be exact, and no more Bitcoins can ever be produced.
Although there are various forks that can happen, ( offshoots of the main Bitcoin blockchain ) which produce variations of Bitcoin, such as Bitcoin Cash or Bitcoin Gold, the main Bitcoin legacy remains.
Considering the very limited supply of 21 Million Bitcoins and the increasing demand for Bitcoin worldwide (7.4 Billion people), it could potentially grow to $15,000 by the end of this year.
For investors who want to buy a dip, you may have to wait a little longer for a bigger correction. And when it comes, the $10,000 will most likely become the major support level.