In almost less than a week that the worlds No.1 cryptocurrency hit $8000, it has again blown past and soared into $9000 as it shows the public signs of not slowing down. The price of this coin keeps increasing despite that a whole lot of persons still do not agree that this is an asset. With varying observers from Wall Street to venture capitalists, people have been skeptical about this coin and it has seen over 40% growth in the past 2 weeks.
“Bitcoin has seen another frenzy of buying as the fear of missing out trade bites even harder,” analysts at IG Group, a trading-platform operator, wrote in a note on Monday. “There are others who see downside risks from the introduction of bitcoin futures,” they wrote.
Bitcoin has hit a record of $9720.95 on Monday and was recently up about 16% compared with Friday. This soaring appreciation has not given enough room for analysts to keep to date with their predictions on the coin. Mike Novogratz, the Hedge fund manager, is starting a a$500m fund to invest in cryptocurrencies, said that he expects the bitcoin to round off the year at $10000. Just a day later, Head of Research at Fundstrat, Thomas Lee speculated the price to be $11500 by the middle of 2018.