Cryptocurrency Continues To Explode With Bitcoin And Ethereum Leading The Charge
At this moment, Bitcoin has breached yet another high, sitting at $9,065. At the beginning of the month, Bitcoin crossed the $7,500 threshold and hit $8,000 just over a week ago. Today's milestone shows that Bitcoin's growing momentum could allow it to hit $10,000 by year's end.
This latest push means that Bitcoin's market cap is now sitting at $151 billion.
The buzz around the cryptocurrency lead Coinbase, the top Bitcoin exchange in the United States, to add roughly 100,000 accounts during the Thanksgiving holiday. "Anecdotally, everyone I have talked to in the cryptocurrency community has said that Thanksgiving table discussion was all about bitcoin, and that inspired many family members to buy bitcoin," said BK Capital Management founder and CEO Brian Kelly in an interview with CNBC. "I suspect that pattern was repeated across tables everywhere."
Bitcoin has increased 843 percent since the start of 2017.
Not to be left out, Ethereum is also riding high this weekend. Over the past 24 hours, hit an all-time high of $483, inching close to that elusive $500 mark. “I think we end the year at close to $500 in Ethereum,” said billionaire cryptocurrency investor Mike Novogratz in an interview with Bloomberg TV last week. “There’s a lot of positive things happening in the Ethereum ecosystem." Here we are a few days later, and Novogratz's prediction is coming true.
Ethereum is up 5,885 percent since January 1st, 2017.