Bitcoin Surpasses $11,000 For The First Time In More Than A Year – How Far Can It Go?
Bitcoin (BTC) the largest digital currency in the market has just surpassed $11,000. According to data provided by CoinMarketCap, the virtual currency is currently being traded above $11,129 and is getting closer to $197.8 billion. This comes after surpassing $10,000 a few hours ago. Bitcoin is not traded around this price since March 2018, when the digital currency was close to $12,000.
Bitcoin Surpasses $11,100
After being traded around $3,200 in December 2018, Bitcoin is now 246% up and the market is very excited about the future of the digital asset. There are several crypto figures in the market that have been very bullish about cryptocurrencies.
Thomas Lee, for example, the co-founder of Fundstrat Global Advisors, suggested that Bitcoin could grow up to $40,000 after reaching $10,000. He said so during a conversation with Wei Zhou, the CFO of Binance.
On the matter, he commented:
“I think FOMO really gets triggered once Bitcoin hits $10,000, so going from $10,000 to $20,000 is gonna be fast and furious. […] If Bitcoin somehow manages to get to $10,000, it is very likely it will make a run to $40,000 within five months.”
Indeed, as soon as Bitcoin broke above $10,000, the digital currency moved immediately upwards and surged 10% in just a few hours. This shows that the most popular digital currency is attracting a lot of interest from investors around the world.
Another Bitcoin expert and the co-founder of the cryptocurrency exchange Gemini, Tyler Winklevoss, commented that Bitcoin could move to $15,000 after surpassing $10,000. If it wants to do so, Bitcoin would have to increase an additional 35% from current price levels.
If bitcoin breaks 10k, you can bet it’s going to break 15k…👍🏻🚀
— Tyler Winklevoss (@tylerwinklevoss) June 19, 2019
In addition to it, John McAfee, a recognized crypto figure in the space, mentioned that if Bitcoin breaks $100,000 it can move to a million. This is the price target that he predicted a few years ago. He mentioned that before 2021, Bitcoin was going to surge to $1 million.
Currently, Bitcoin has a market capitalization of $197.78 billion and a price increase in the last 24 hours of 13.22%. According to CoinMarketCap, most of the cryptocurrencies in the market are registering important gains in the last 24 hours.
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