Bitcoin overpasses $5000

Bitcoin, the most expensive cryptocurrency in the world, now costs more than five thousand U.S. dollars only for one coin, according to the data from Coinmarketcap.com, as well as other cryptocurrency statistics websites.

Bitcoin slowly grows. Stats courtesy of Coinmarketcap

 

Possible explanations might involve Elliott waves and the market pattern theory, the realization by the vast mining pools that Chinese bans are not the end of the cryptocurrency world, and an overall good reception of cryptocurrency by the media as an interesting investment opportunity (only with occasional skeptics from fiat market).

 

Still, Bitcoin market will have to be very positive to reach the values recently predicted by Mike Novogratz – $10,000 in less than a year. Judging by the previous volatility, we might see a period of optimism later changed by some big negative news about regulative measures, or, maybe, blockchain vulnerabilities.