Cryptocurrency Continues Its Surge As Bulls Run Wild

Bitcoin is currently up roughly 800% for the year and is rapidly nearing the $10,000 USD level, a mark which seemed almost impossible to comprehend a few short years ago.

As of this moment, one Bitcoin would cost you $9,568.41 USD.

Bitcoin bulls are rampaging right now, and this bullishness is starting to invade the stock market, where companies that are even remotely connected to cryptocurrencies or blockchain technology are soaring (OSTK, MARA, etc).

Coinbase, which is one of the leading places for people to buy and sell cryptocurrencies, is reportedly opening up 100,000 new accounts every day. Despite issues with China, issues with hard forks and any number of other issues, Bitcoin (and other cryptocurrencies such as Ethereum) is soaring.

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Some believe that Bitcoin could hit $100,000 or even $1,000,000 per coin.

Others believe that we are in the midst of a super-bubble and that all of the people who are currently rushing in will get squished, similar to how everybody rushed in to buy Internet stocks at the top of the dot-com bubble in 2000.

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When it comes to Bitcoin, there is really no middle ground - either you are a super-bull or you think that Bitcoin has no value.

How will this story end? Will Bitcoin hit $100,000, as some very smart people are predicting?

Or will Bitcoin end up going down as one of the biggest bubbles of all time?

Filed under: General Knowledge