Skip to content

The average price of bitcoin reaches $ 10,000 in a rally organized by Korea

Get trading recommendations and read analytics on for only $ 39 a month

The average bitcoin world price broke the $ 10,000 mark on Tuesday after Korean traders proposed double-digit bonuses.

Bitcoin Brooch Price $ 10,000

Well, it was certainly fast.

Less than two days after reaching the $ 9,000 mark, the global average bitcoin price broke the five-digit barrier, reaching a new all-time high of $ 10,069, according to CoinMarketCap.

Although it appears to be a psychologically significant barrier, the price of bitcoin has reached $ 10,000 with relative ease, a scenario very different from the one that cost $ 5,000 earlier this year.

<img class="size-full wp-image-124930" src="" alt=" bitcoin price "width =" 1070 "height =" 497 "/>

BTC price chart | Source: CoinMarketCap

The gathering was almost on its own fueled by the insatiable demand of Korean traders. At the time of writing, the BTC / USD pairs were still trading at around $ 9,900, and Western traders seemed reluctant to move to five-digit territory. However, BTC / KRW traded above $ 10,800 on Bithumb – the second largest bitcoin exchange – and on Coinone, the seventh largest exchange. At this rate, it is conceivable that BTC / KRW could break the $ 11,000 mark before the USD pairs see $ 10,000.

<img class="size-full wp-image-124929" src="" alt=" bitcoin price "width =" 957 "height =" 271 "/>

Source: numismatics

As announced yesterday, soaring parabolic prices are probably related to the impending launch of Bitcoin futures on US regulated markets CME. However, it could also be related to new buyers entering the market. During the weekend that followed the American Thanksgiving holiday, the iOS app for Coinbase became the most trendy search term in the App Store, indicating that a significant number of people are interested in integrating Bitcoin markets.

See also  (+) Commercial Recommendation: Dash

Analysis and Prospects

So where does bitcoin come from? Mike Novogratz, billionaire hedge fund legend – a long-term bull who thinks the price of bitcoin could reach $ 40,000 in 2018 – told CNBC that he would not be surprised if markets were undergoing a short correction term. .

Similarly, Brian Hoffman, project manager at OpenBazaar, wrote on Twitter that he believes that many investors have set their profit-making goal at $ 10,000. Erik Voorhees, CEO of the ShapeShift Cryptocurrency Exchange, advised investors with large holdings to take some of their profits and pay off their consumer debt – a sentiment that has been picked up by several other industry observers.

In any case, it is difficult to imagine that markets are experiencing such a rapid rise without some kind of setback. Remember that bitcoin was valued at only $ 1,000 at the beginning of the year, so supporting such an increase in such a short time would be unprecedented. However, Bitcoin has taken the habit of defying expectations this year and, as many amateur investors have learned, it may be best not to try to temporize the market.

Image from Shutterstock to photo