Bitcoin Sets New Record as it is Expected to Hike to $10,000 this week

Bitcoin Sets New Record

One of the top news in the business world related to finance is here from Bitcoin. Bitcoin is known to be the most fluctuating cryptocurrency. During the beginning of this year i.e. January 2017, it started from $920 and at the end of the month it showed a downward trend and hit down to $750, the price falling by 30%. The company boomed since May and June, where price reached nearly $3000 on 12 June and on 6 August the price was $3270.

The cryptocurrency then never stopped after August 2017 as it climbed graph and this month it reached nearly to $9687. In other words, we can also say that starting from August till today, the company experienced a peak rise in its growth rate. It is now expected that it may cross $10,000 soon this week. It has nearly doubled since the beginning of October.   

Investors at the global level are showing their interest in Bitcoin which has ultimately shown its effects with rising in its units price. In the recent months, the announcement that the world’s biggest derivatives exchange operator CME Group would start offering Bitcoin futures, has helped Bitcoin’s price.

Charles Hayter who is known to be the founder of cryptocurrency data analysis website Cryptocompare stated that “$10k is on the cards and bitcoin seems to be straining at the leash to reach it,”.

Source: Reuters

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