Why Bitcoin Continues Its Phenomenal Rise
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Bitcoin continues its phenomenal surge in the financial trading market as it already reached the $9,000 per token mark as of late November 2017. The leading cryptocurrency was also traded at $10,000 in some markets.
While international investors still waiting for $10K, Indian #Bitcoin Prices are already above $10,800 (INR 7,00,000) !!#India #Bitcoin $BTC @Unocoin@zebpay @PocketBitsIndia @Coinsecure pic.twitter.com/v71HrhUFvG
— Bitcoin Bullet (@Bitcoin_Bullet) November 26, 2017
The sustained upward trajectory of the most popular cryptocurrency has continued to baffle both the virtual currency markets and the wider investment community.
These developments show that Bitcoin is slowly but surely realizing the visions of its developers when they launched the digital token. The cryptocurrency is envisioned to be both as a payment and investment alternative that can be accessed by everyone on the planet.
Why the continued rise?
The number one virtual token has already achieved major milestones during its eight years of existence. To honor Bitcoin for its accomplishments, here are several factors about it:
Bitcoin follows a parabolic trajectory – According to Investor Parabolic Trav, the price of the number one virtual currency could reach an unthinkable $110,000 per token price based on his own personal analysis.
I’ve been charting parabolic trends for a long time. I use curved lines and not linear lines, because linear lines are for non-exponential trends. When I draw the trajectory of $BTC intersecting all tops and all bottoms, this is what I get. pic.twitter.com/geS5S9WIEj
— Parabolic Trav (@parabolictrav) November 26, 2017
Bitcoin is the $10,000 currency unit
The leading virtual currency continues its amazing performance and has already reached a value of $10,000 in some markets. In India, major exchange Unocoin is asking for about 700,500 rupees ($10,800) for every Bitcoin.
Bitcoin is listed as among the top-30 global currencies
Bitcoin is also included in the list of the top 30 currencies in the world as of November.
To build on from this, Cryptocurrency Market cap. of 300 billion (331 trillion korean won) surpassed Kosdaq total market cap of 275 trillion won. (Equivalent to US version of Nasdaq in Korea). Source: https://t.co/mFCi6eRmAH https://t.co/tQhF5uX2vo
— Crypto Korean 🇰🇷한국 (@CryptoKorean) November 27, 2017
Based on December 2016 estimates, Bitcoin has already surpassed Finland and the United Arab Emirates (UAE) in terms of market capitalization (cap).
Based on data from Coinmarketcap, Bitcoin has a current market cap of $155 bln and is about to overtake Ireland and Denmark on the list.