Boy, that escalated quickly: One bitcoin is now worth $10,000 USD. It seems like only a couple of days ago we marveled at how quickly it reached $9,000 — because it literally was! The big question now is, will BTC grow exponentially in value from here, reaching the mythical $1 million figure few believed possible? Or is $10K as good as it gets?
$10,000, or Ten Thousand Dollars
At press time, one bitcoin was worth $10,008 on Bitsonline‘s BTC price index — an average of prices on major exchanges around the world, using data from BitKan.
Feast your eyes upon this chart, evidence that Bitcoin was worth at least five figures in USD at one point in history. Whether it now goes to six, seven, or even three figures is uncertain, but no-one can take this moment away:
Other price averages such as CoinMarketCap soon followed:
How the Heck Did We Get Here?
Remember that bitcoin hit $2,000 only in the second half of May 2017. In the years before that, the benchmark peak was around $1,200 — in November 2013. Hodlers and those who bought at the peak had to endure whole years of pessimism, critics’ mockery, and dissipating savings.
There was even one dark day in August 2015 when bitcoin sank below $200. No, we didn’t forget a zero there. In hindsight, that would have been a great day to put all our savings into BTC — but it didn’t seem like it at the time.
About to jump on a 13-hour flight. If #Bitcoin hits $9,000 while I'm in the air, please accept my apologies for a late cartoon.
— Cryptopop! by Luis Buenaventura (@helloluis) November 25, 2017
Then it hit $3,000, $4,000, $5,000 etc. Cartoonist Luis Buenaventura of CryptoPop! considered abandoning his side career as a tech entrepreneur to draw BTC price cartoons full time. At each thousand dollar landmark we marveled, wished we’d bought earlier, and hoped the price would drop so we could acquire more.
A couple of times it did just that — bitcoin went from over $7,400 to under $6,000. Actually that was two weeks ago.
More All-Time-Highs or Tragedy?
The big question is: where does it go from here? Will we be writing about $20,000 a week from now… or will we be cleaning out our desks? If we knew for sure, we’d be too busy yelling at the guy polishing our Lamborghinis to write price articles. Needless to say, none of this is actual financial advice.
However we will note that our resident technical analyst Ramiro Burgos has been predicting $12,000 since it hit $8,000. Polish physicist Mariusz Tarnopolski used advanced probability theory to predict a BTC price of $6,358 at the start of 2018. Both could still be correct.
John McAfee now has only $490,000 per BTC to gain to avoid having to eat his own manhood on national TV in 2020. Given the rapid rise and the sheer power of investor FOMO, it doesn’t seem like such a crazy bet. Fingers crossed.
What happens now — does it end with a moon landing or a giant mushroom cloud? Let’s hear your thoughts.
Images via Dreamworks, Pixabay, CoinMarketCap