BITCOIN BLASTS PAST $10,000 MARK AMID BUBBLE CONCERNS
The cryptocurrency was trading at
$10,034 as of this writing, an increase of more than 900 percent since the beginning of the
The cryptocurrency has experienced a massive run in 2017. On Jan. 1 this year, bitcoin was
priced at just under $1,000. Still, the cryptocurrency's value has been extremely volatile and
prone to crashes, and the milestone comes amid growing concern bitcoin is on the edge of a
"This is a bubble and there is a lot of froth. This is going to be the biggest bubble of our
lifetimes," hedge fund manager Mike Novogratz told Bloomberg at a cryptocurrency
conference Tuesday in New York.
Novogratz predicted last week that the cryptocurrency would end the year at $10,000,
according to Bloomberg, while Fundstrat's Thomas Lee doubled his price target to $11,500 by
the middle of 2018.