Bitcoin reaches all new high as it hits $10,000 per coin for the first time

[Julio Franco]

Bitcoin had already reached a record all time high of $5,000 in September before falling back down in price, since then Bitcoin has surged on. With a current market cap of approximately $168 billion, Bitcoin now has a larger market capitalization that far surpasses the GDPs of three quarters of the world.

Read: 11 Tech Products That Were Supposed to Fail... But Didn't

After the beginning of 2017, Bitcoin has had a daily trade volume of more than $100 million, recently that volume has tripled. October's surge in price to $7,000+ levels had occurred as fears of Chinese regulators blocking cryptocurrency exchange sites had dwindled.

Now it's almost December and Bitcoin has doubled in price in less than three months. Although it may seem tempting to buy cryptocurrencies in hopes of massive returns, the risks are high. Cryptocurrency markets can fall just as quickly (or coin can be lost) as they rise making it difficult for novice investors to cash in on the frenzy. With that said, 2017 will see outrageous returns to those who held on to their Bitcoin acquired at sub-$1,000 prices.

There have been numerous peaks and valleys along the way for Bitcoin as well as other cryptocurrencies, not to forget problems with exchange websites either.

Bitcoin discussion is full of proponents and detractors. Earlier this year JPMorgan Chase CEO Jamie Dimon declared that Bitcoin "is a fraud," although interest in cryptocurrencies has not declined for any of the company's clients. On the opposite end, renown former hedge fund manager Michael Novogratz had called Bitcoin hitting $10k and now he's saying the cryptocurrency "could be at $40,000 at the end of 2018." He also added that Ethereum could triple, though he doesn't recommend investors put any more than 1 to 3 percent of their net worth in cryptocurrencies.

Permalink to story.

https://www.techspot.com/news/71375-bitcoin-reaches-new-high-approaches-5300.html

 

[OutlawCecil]

I've considered investing in Bitcoin and/or Ether and have been monitoring progress of it all. The whole Chinese ban came right when I was planning to invest and scared me enough not to. As I understand, everything dropped like a rock when it was announced there'd be a ban, but raised when they gave temporary "padding" time for people to get out of crypto-currencies. I'm afraid it's going to drop again when the ban is finally enforced again. Gah! I don't know anymore...

 

[VitalyT]

That's your $5300,....so far

But keep it up! That's just history lesson fall on deaf ears, as it often does.

 

[davislane1]

I've considered investing in Bitcoin and/or Ether and have been monitoring progress of it all. The whole Chinese ban came right when I was planning to invest and scared me enough not to. As I understand, everything dropped like a rock when it was announced there'd be a ban, but raised when they gave temporary "padding" time for people to get out of crypto-currencies. I'm afraid it's going to drop again when the ban is finally enforced again. Gah! I don't know anymore...

Asset prices go up and down. If buying the dip scares you, stay out of it.

 

[yRaz]

It hit 5420 on my exchange. This has been a great day for trading crypto!

 

[Mister_K]

I've considered investing in Bitcoin and/or Ether and have been monitoring progress of it all. The whole Chinese ban came right when I was planning to invest and scared me enough not to. As I understand, everything dropped like a rock when it was announced there'd be a ban, but raised when they gave temporary "padding" time for people to get out of crypto-currencies. I'm afraid it's going to drop again when the ban is finally enforced again. Gah! I don't know anymore...

Should of invested into smaller coins/technologies such as WTC (Walton). I had 800% increase from .69 to 6.5GBP and still keeping it. Only regret is not investing all my savings into it. Id have quater of a million now.

 

[Mister_K]

I've considered investing in Bitcoin and/or Ether and have been monitoring progress of it all. The whole Chinese ban came right when I was planning to invest and scared me enough not to. As I understand, everything dropped like a rock when it was announced there'd be a ban, but raised when they gave temporary "padding" time for people to get out of crypto-currencies. I'm afraid it's going to drop again when the ban is finally enforced again. Gah! I don't know anymore...

Asset prices go up and down. If buying the dip scares you, stay out of it.

I panic sold bids when I started of. Now I see them as discount "Steam" sales, just matter of picking up the right batch. Always buy the dips.

 

[davislane1]

Should of invested into smaller coins/technologies such as WTC (Walton). I had 800% increase from .69 to 6.5GBP and still keeping it. Only regret is not investing all my savings into it. Id have quater of a million now.

Never regret this. Leverage cuts both ways.

 

[Mister_K]

Should of invested into smaller coins/technologies such as WTC (Walton). I had 800% increase from .69 to 6.5GBP and still keeping it. Only regret is not investing all my savings into it. Id have quater of a million now.

Never regret this. Leverage cuts both ways.

Yeh but those savings went into my new workstation instead. I know its not the wisest sayings but I would of had 25k GBP profit, or hodl and increase it by 600% to 1800% within 36 months.

 

[Reachable]

The burgeoning world of cryptocurrency is one BIG HUGE denial. This is the most dangerous form of speculation that was ever invented. There's literally NOTHING behind it.

"Yeah, yeah" you're saying. "Listen to this crank, this doomsayer, this negativist." But you know full well that it's ALL going to crash one day, and everyone will lose their shirt. Almost everyone -- not you, of course.

I write this post in an undenied attempt to do my small little part in killing cryptocurrency NOW, before it expands further and obliterates more when it implodes.

 

[Mister_K]

The burgeoning world of cryptocurrency is one BIG HUGE denial. This is the most dangerous form of speculation that was ever invented. There's literally NOTHING behind it.

"Yeah, yeah" you're saying. "Listen to this crank, this doomsayer, this negativist." But you know full well that it's ALL going to crash one day, and everyone will lose their shirt. Almost everyone -- not you, of course.

I write this post in an undenied attempt to do my small little part in killing cryptocurrency NOW, before it expands further and obliterates more when it implodes.

Sounds you have no clue what the **** cryptos are. There is a lot behind and each individual cryptos have different things to offer. Bitcoin, Litecoin, OmiseGO are great for transactions and asset keeping. Ethereum for decentrilised applications, smart contracts etc, Walton which I am currently deeply in is a combination of Transparency, Tracability with the use of RFID in manufacturing and any process which has many steps that you need to track (shipping, commerce etc).

It may crash yes, if Governments impose stupid laws. It has been nearly a decade since Bitcoins launch, we are still here.

Yes its a volatile market.
Yes you can be ****ed over and loose money.
Yes it needs to be fine tuned but we have gone through bubbles and dips.

Its working, its not just "nothing" ... Go research, even tho, we know, you won't. #headinthesand

 

[Reachable]

Sounds you have no clue what the **** cryptos are. There is a lot behind and each individual cryptos have different things to offer. Bitcoin, Litecoin, OmiseGO are great for transactions and asset keeping. Ethereum for decentrilised applications, smart contracts etc, Walton which I am currently deeply in is a combination of Transparency, Tracability with the use of RFID in manufacturing and any process which has many steps that you need to track (shipping, commerce etc).

It may crash yes, if Governments impose stupid laws. It has been nearly a decade since Bitcoins launch, we are still here.

Yes its a volatile market.
Yes you can be ****ed over and loose money.
Yes it needs to be fine tuned but we have gone through bubbles and dips.

Its working, its not just "nothing" ... Go research, even tho, we know, you won't. #headinthesand

The technology is actually very useful, I hear, and can be applied to numerous beneficial purposes. But when you invest in cryptocurrency you aren't investing in the technology (which would be a rational investment), you're just investing in speculation that others will invest. That, admittedly, is how the general stock market works, but in that case there's at least the pretense that you've bought something tangible or an applicable tool for services. Owning Bitcoin transiently to make transactions might make sense, but as a long term investment it can only be stupendously risky.

 

[Mister_K]

The technology is actually very useful, I hear, and can be applied to numerous beneficial purposes. But when you invest in cryptocurrency you aren't investing in the technology (which would be a rational investment), you're just investing in speculation that others will invest. That, admittedly, is how the general stock market works, but in that case there's at least the pretense that you've bought something tangible or an applicable tool for services. Owning Bitcoin transiently to make transactions might make sense, but as a long term investment it can only be stupendously risky.

I hear you, but, "as a long term investment it can only be stupendously risky" well it has proven good thus far and will for the next decade. I don't think it will last and the ultimate "currency" will be the one which utilizes all technologies and does them well. A Facebook/Google of crypto.

 

[Reachable]

I hear you, but, "as a long term investment it can only be stupendously risky" well it has proven good thus far and will for the next decade. I don't think it will last and the ultimate "currency" will be the one which utilizes all technologies and does them well. A Facebook/Google of crypto.

That sounds reasonable. If it's beneficial to do some transactions in crypto rather than fiat currency then some form of crypto will persist.

As the article states, Bitcoin has undergone tremendous increases in value. That's gotta be something like deflation. I don't know what that really means, what the ramifications are. I don't know if anybody does. Maybe people like you, those who had the knowledge first, who are at the forefront, will be rewarded for "seeding" the world economy with crypto. Maybe.

 

[cuerdc]

If you had 1million coins who would buy them at this price??

 

[ZackL04]

If you had 1million coins who would buy them at this price??

Can you not just cash out via coinbase?

 

[cuerdc]

If you had 1million coins who would buy them at this price??

Can you not just cash out via coinbase

But would they pay out such a large amount? and I can imagine a lot of people cashing out right about now.

 

[MaXtor]

I invested a small amount of money, cashing out now might be smart, but I'm just gonna let it ride.

 

[CaptainTom]

I've considered investing in Bitcoin and/or Ether and have been monitoring progress of it all. The whole Chinese ban came right when I was planning to invest and scared me enough not to. As I understand, everything dropped like a rock when it was announced there'd be a ban, but raised when they gave temporary "padding" time for people to get out of crypto-currencies. I'm afraid it's going to drop again when the ban is finally enforced again. Gah! I don't know anymore...

It bounced back WAY before China (once again) admitted they were just pandering to their conservatives before a party election. The crypto community is done letting China continue to manipulate the market. Japan and Korea have stepped in, and they are doing a way better job acting as crypto hubs.

As for "If to invest now", I am not afraid to tell people to invest anymore. Just bloody do it lol. I have been in this ecosystem since college, and it has yielded FANTASTIC returns. But I never used to tell my friends to invest, because I was afraid I would be blamed if the market crashed.

Bitcoin, Ethereum, and DASH are all safe bets. Past that you would be best to really make sure you know what you are investing in. Oh and in general I would stay away from ICO's - most are probably complete BS. They will cause the next crash for sure - but remember that if Bitcoin reached $100K and crashes to $20K..... $20K is still a lot haha.

 

[Jamlad]

Here's a simple idea which is not only limited to crypto-currency: take some vice that you spend a reasonable amount of money on (cigs, booze, Starbucks, subs) and give it up for a month. Take that money ($10s) and invest it in stuff. Stocks, crypto-currency, etc. and then forget about them.

Worst case scenario: you're out the same amount of cash but maybe a little healthier.

Do this periodically and you might end up with some nice windfalls in ten years. $10 in bitcoin in 2011 would be >$60,000 now.

 

[Mister_K]

It bounced back WAY before China (once again) admitted they were just pandering to their conservatives before a party election. The crypto community is done letting China continue to manipulate the market. Japan and Korea have stepped in, and they are doing a way better job acting as crypto hubs.

As for "If to invest now", I am not afraid to tell people to invest anymore. Just bloody do it lol. I have been in this ecosystem since college, and it has yielded FANTASTIC returns. But I never used to tell my friends to invest, because I was afraid I would be blamed if the market crashed.

Bitcoin, Ethereum, and DASH are all safe bets. Past that you would be best to really make sure you know what you are investing in. Oh and in general I would stay away from ICO's - most are probably complete BS. They will cause the next crash for sure - but remember that if Bitcoin reached $100K and crashes to $20K..... $20K is still a lot haha.

I would stretch and go for Litecoin, IOTA (cheap to invest in) and without shilling WTC as a more semi-risky bet.

 

[CaptainTom]

I would stretch and go for Litecoin, IOTA (cheap to invest in) and without shilling WTC as a more semi-risky bet.

Litecoin is a "me-too" Bitcoin. (albeit the best one with a good set of developers). I think it may emerge as an ok replacement of Bitcoin Cash, but that's it.

DASH has the ability to truly be an instant, anonymous, and well supported currency replacement. One without the scaleability issues destroying Bitcoin and kin right now (Although Bitcoin will survive as a replacement for gold and 401K's).