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$ 9,060: The Bitcoin Price Reaches a New Historic High, Approaching $ 10,000

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The Bitcoin price reached a new absolute record on November 26 at $ 9,060, approaching $ 10,000. region.

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Provisional objective of $ 10,000 of eminent realist analysts

Earlier this year, highly respected investors and financial analysts, including Max Keizer of RT and billionaire hedge investor Mike Novogratz, set the target for temporary bitcoin prices to $ 10,000

In an interview with Binary District, Keizer pointed out that in 2018, the price of bitcoin could approach the medium-term goal of $ 50,000, while tens of billions Institutional money penetrate the bitcoin market.

"Bitcoin should take only a few points in the global investment market of several hundred billion dollars to achieve a market capitalization of $ 1 trillion and beyond," says Keizer

Over the last 12 months, Bitcoin has demonstrated great resistance to criticism and unfounded condemnation of the traditional financial sector. Several public figures such as JPMorgan CEO Jamie Dimon falsely accused Bitcoin of being a fraud, with the intention of degrading the bitcoin that has become a competition for the global banking system.

However, despite the harsh criticisms of Dimon, it was revealed that JPMorgan traders have traded bitcoins since September via the Swedish Nordic Nasdaq, and will continue to trade Bitcoin futures at the launch by the CME of 11 December. .

Keizer pointed out that the public and consumers are beginning to understand the benefits and merits of a decentralized financial network like Bitcoin, and the misleading nature of banks. This year alone, JPMorgan has been fined $ 12 billion for mortgage fraud and fined by the Swiss FINMA Financial Authority for money laundering.

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"No bank in the world is innocent.All who hope that one day we will be released from these rentiers, industrial psychopaths of war, prison and casino, in banks, should be interested in Bitcoin and cryptography, "said Keizer.

The liquidity of Bitcoin increases

In less than two weeks, the price of bitcoin went from less than $ 7,800 to $ 9,060. Throughout the soaring, daily trading volume of bitcoin has increased dramatically from about $ 2 billion to $ 4.6 billion. Currently, bitcoin is significantly more liquid than the most liquid stock on Earth than Apple and deals with more transactions than major stock markets such as KOSDAQ South Korea.

Over the next few weeks, while the hedge fund Man Group and other major financial institutions such as JPMorgan engage in bitcoin trading via strictly regulated exchanges, the price of bitcoin should exceed $ 10,000 before the end of 2017.

In October, Novogratz noted that a "flock of institutional investors" is entering the cryptocurrency market. Coinbase CEO Brian Armstrong said that $ 10 billion of institutional money is waiting to be invested in bitcoin, and most of the funds are expected to be transferred to the bitcoin market by mid-October. December.

As such, Wall Street analysts and financial companies such as StandPoint have increased their interim bitcoin price target from $ 10,000 to $ 14,000. "There have been a lot of positive developments over the past five months and some of the obstacles that were in the way of Bitcoin have been reversed," says Ronnie Moas, founder of Standpoint Research.

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