Bitcoin Barrelled Near $8000, $10,000 By Year End :)

The cryptocurrency king, Bitcoin, smashed another record and grabbed investors’ attention again. It appears that there is nothing stopping the bitcoin freight train. The cryptocurrency barrelled towards $8000 ($7997 to be precise).
That is a whopping 41.97% increase in the price after this week’s low of $5605. Gains like this are unheard of and clearly, this is an uncharted territory.
However, the reality is that this instrument is driven not only by speculation but strong demand as well. Based on the moves which the currency has experienced and its strong momentum, I do think that the cryptocoin could touch the 10K mark by the end of this year or early next year. It may seem bizarre and one may think it is not possible. But think again. I am only referring to a 25% gain from its peak of $7997. This is an instrument which has rallied 41.97% only this week so another 25% gain may not be that much of an issue.
Here are the primary reasons. As I said earlier, the momentum is behind it and the developments like Goldman Sachs’s analysts writing a note to their investors and predicting the price of $8000 to pave the way for this kind of rally. The CEO of the firm, Lloyd Blankfein, has struck a very balanced approach on this (or the water down version of this could be neutral view).