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    November 28, 2017

    It’s official: Bitcoin roars past the $10,000 USD barrier

    Bitcoin gold fork

    Bitcoin has officially reached a new all-time high, surpassing the $10,000 USD mark a little more than a month before the close of the year.

    Throughout 2017, pundits have speculated that Bitcoin’s meteoric rise might conclude with a break above the $10,000 USD mark before the close of the year – and now the popular cryptocurrency has succeeded in shattering that barrier just over one month ahead of many previous estimates.

    The digital currency’s rise to power began in earnest in January this year, where it kicked off trades with an average price of $750 USD per coin. Milestones along the saw the cryptocurrency pass through the $5,000 and $8,000 USD barrier in recent months, before now settling at just over the $10,000 USD mark.

    Read: Getting started with cryptocurrency: an investment thesis

    While the digital currency has become renowned for its resilience, it has arguably faced its most challenging year yet. Nations around the world have begun to issue their stance on the growing popularity of digital currencies – some adopting frameworks to support cryptocurrencies, with others outlawing them outright – and the Bitcoin community itself has seen numerous fractures this year.

    Notable differences in opinion have birthed three new hard forks this year – Bitcoin Cash came to prominence amid a scaling debate, while Bitcoin Gold has aimed to decentralize the Bitcoin mining process. Bitcoin Diamond further debuted with the view of increasing the number of coins in circulation.

    The digital currency’s prolific rise may not be over yet, as many institutional investors have indicated their willingness to offer Futures trading. Most notably, the CME Group has announced its intention to launch a Bitcoin Futures trading contract in mid-December following a regulatory review.

    Read: The International Monetary Fund may develop its own cryptocurrency

    What are your thoughts? Can anything stop the rise of digital currency? Be sure to let us know your opinion in the comments below!

    Follow Bryan Smith on Twitter: @bryansmithSA

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