Published: Tue, November 28, 2017
Industry | By Dora Warner

Bitcoin price about to reach new record high of $10000

Bitcoin price about to reach new record high of $10000

For the past three days, the value of the crypto currency bitcoin has risen by more than 20 percent to several points from a record Dollars 10,000 per unit, Reuters reported.

As a result of these gains, the market value of bitcoin has reached another high of nearly $150 billion, which takes the combined value of all digital currencies to $258 billion. Today's milestone shows that Bitcoin's growing momentum could allow it to hit $10,000 by year's end. That is as per open information accessible on Coinbase's site and verifiable records accumulated by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund. Coinbase had around 4.9 million clients last November, Milne's information appeared.

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JPMorgan Chase CEO Jamie Dimon in October warned that those "stupid" enough to buy bitcoin will ultimately "pay the price for it".

Hussein said the cryptocurrency continued to gather pace over the weekend, rising above US$9,000, despite warnings of bubble being created in this new asset class.

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The value of cryptocurrency Bitcoin, that is continuously on a rise from past few month, has crossed $9600.

"It is not just retail investors showing interest in the cryptocurrency, but many hedge funds have chose to join the party recently by including Bitcoins in their portfolios", he added.

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