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Great News For Bitcoin Followers: Bitcoin crosses 10K

Nov 28, 2017 Posted /  7961 Views

Great News For Bitcoin Followers: Bitcoin crosses 10K

Bitcoin since its origin saw a Cinderella journey. It had it’s highs and lows, but it came strong all the time. And finally, we are witnessing the beginning of happily ever after. The year 2017 has been a very spectacular year for the currency, with value elevating to all-time highs.

It began in January when the price for Bitcoin after much struggle soared to $1,000/BTC, and in October the price breached $4,500. The speculations started in that period suggested that the Bitcoin surge was imperative and unavoidable this year. Though a denomination on November 12 surprised everyone when the price was $5,850 after standing in the 7K value.

Nonetheless, the current value of bitcoin is not only astounding people, but it facilitated in building a very serious model for the future of cryptocurrency. As a result, even the doubters are now believers with a huge $160B (approximately) market seizure. Now the currency stands at a present-time high of $10k per token.

The currency utilization and credibility among the masses have enormously increased with the time. Bitcoin Price is now getting the much-needed stability which was lacking in its initial years. The company website has laid down the statistics depicting that now the platforms see around 250, 000 to 375, 000 transactions in a single day. Moreover, the digital currency has been able to set reputation especially in those markets which very largely unexplored previously.

Even mining is now more lucrative than it was ever before. In the present time, the Simple Moving Average (SMA) apprehended as the short term has well exceeded the long-term trend indicator which represents that bulls may damage key resistance very easily. Furthermore, the currency’s price could see a righteous face value in the coming time, but it will be consumed by the fact that whether the buyers will sprint out of the inactivity.

It is sure that if a decline takes place, which according to the Cryptocurrency researchers is estimated between $9,000-8,800 in a short-term situation, it will further swell up to greater heights. As for now, bitcoin is steadily churning the pace with the head held high at above $10K. And, it seems only the initiation of a great reign.

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Tags: Bitcoin Price Bitcoin news Bitcoin Cross 10K

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