$10,000 BITCOIN PRICE MAY BE IN SIGHT AS BTC TESTS ALL-TIME HIGH
The price of BTC assumed its all-time high record earlier on Monday, as it made a big gun in the digital currency to state that there will be no issue for the digital currency to reach the rate of $10,000 in the nearest future.
In the late hours of Sunday, the price of Bitcoin saw an increase from the rate of $5,660 to an all-time high record of $6,345on the largest-volume exchange of the currency, Bitfinex. Although the coin has experienced a taper of $300 since the surge in its price, the price of Bitcoin continued to exchange at the rate of $6,000 on Monday.
According to a report by CNN, there are numerous phenomena that enhanced the increase in the price of the coin. Traders are very self-confident in Asia about the decision of South Korea to make a regulation about BTC as an asset, which has caused many investors that it will help the market to grow at a rapid rate. As the president of China, Xi Jinping has successfully held his office as the current head of the Communist Party of China until the end of the stipulated tenure, there have existed different speculations, including one that China will be lenient on the restrictions placed on the exchanges of the digital currency, Bitcoin.
However, in the United States, digital analysts are waiting that the Securities and Exchange Commission (SEC) will in no time agree to their proposal for approval to the initial exchange-traded fund (ETF) that tracks Bitcoin’s price. Bitcoin ETFs, together with the not-so-long launch of the regulated derivatives system of LedgerX, are required to start a series of investment in Wall Street in the crypto market.
Meanwhile, a longtime Bitcoin expert, Max Keiser has predicted that the price of Bitcoin will in no time reach $10,000 as he took Twitter to tweet: “Hello $10,000!”