Recapping The Past 24 Hours Of Bitcoin

Bitcoin Reaches All Time High Of $11,444

bitcoin moon

Regardless of whether or not you own any Bitcoin (BTC), watching it over the past 24 hours has been incredibly interesting. Last night Bitcoin flirted with reaching $10,000, putting many investors in a mental pretzel as it seemed to sit within $50 of the milestone for a few hours. Then it finally happened, and Bitcoin reached what I view as a psychological milestone for many investors.

But Bitcoin wasn’t finished, and today it continued to rally up to $11,444 (per Get Coin Pricing) on news that NASDAQ will offer Bitcoin futures trading in early 2018.

As the demand and interest in Bitcoin continues to rise, we’re seeing Bitcoin related exchanges, such as Coinbase, struggle to keep their sites live…

It probably has nothing to do with the NASDAQ announcement, or James Altucher predicting (or agreeing with John McAfee) that Bitcoin will be worth $1MM by the end of 2020 live on CNBC today.

Currently as I’m writing this, there is extreme volatility today likely due to slow pageloads on the exchanges.  I wouldn’t be surprised to see $12,000 reached early next week as Bitcoin will be a central theme in an episode of The Big Bang Theory titled The Bitcoin Entanglement.

Why next week?  Bitcoin is getting a massive news pump right now across mainstream media, and that will continue with the Prime Time airing of The Big Bang Theory tomorrow night.  New Bitcoin investors who were on the fence will take the plunge, and just like other newcomers in June, they will face a bottleneck of new account approvals on Coinbase.  So what would likely be a big price jump over the next 24 hours, gets spread out over the course of the next week as new accounts are approved on Coinbase.

What do you think?  Will Bitcoin reach $12,000 next week?  Let us know in the comments.

Written by Michael Chace


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