Bitcoin hits a new record high surpassing the US$ 9,000.00 mark!

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Few weeks ago, some of us were shocked to see the price of bitcoin drop below 28% from a high of  $7,500+ to aprox $5,500  which resulted to many steemians freaking out as to the real future of bitcoin. Consequently, as a result of the negative FUD, many investors sold off and put their funds into the fast rising altcoins at that time, ( including this writer) like BCH, BTG etc. Few days later, we witnessed bitcoin picking up once again and breaking new records. Currently, the price of Bitcoin has soared to a record high of above $9,000.00!   Bitcoin price has risen sharply passing the $8,500 high to a record $9,000 + today as confirmed by coinmarketcap. 

What may be the reason to this bullish trend of Bitcoin? According to the chief trader of social trading platform Ayondo markets Mr.Jordan Hiscott,

“The rapid growth model of bitcoin is a sign of shifting paradigms in the world of finance.  

In his interview with Express.co.uk, he surmised that:

“We are in an age where technology is changing the dynamic of the business world.  “Older, traditional organisations are seeing their long-held dominance challenged by ‘disrupter’ companies.  “For me, it’s no surprise that another disrupter, this time in the form of an asset or currency, is picking up speed.” If bitcoin’s upward trajectory in the markets continues, traders could expect to see even more record prices in coming weeks.   One factor that could explain bitcoin’s growth in popularity is the lack of external regulation and control from big banks.   

Furthermore, Mr Hiscott said: 

“Bitcoin, with its decentralised exchange, means that all transfers and transactions are peer to peer.  “Importantly, no bank or government is involved in these transactions.  “This will resonate hugely with those affected by the printing of money by governments after the 2008 credit crisis.          

Many renowned traders has predicted that bitcoin will surpass the $10k mark by end of 2017 as such, many great steemians and crypto enthusiasts has posted about same. @sirwinchester in his post 3 months ago "  'Legendary' Trader Predicts: Will Bitcoin Hit $15,000 At The End Of The Year?!"  In his blog post ( see above)  "Masterluc" a renowed trader speculates Bitcoin will reach $15.000 by end of 2017 which is possible judging by the current trends. More recently, @jrcornel in his post titled "Bitcoin to end the year at $10,000?"    @jrcornel pointed out in his post that;-

Mike Novogratz restated that he believes Bitcoin will end 2017 over $10,000 per coin.

see @jrcornel post above for more details.

What does this mean for the future of Bitcoin investors & Altcoins like Steem? For holders of bitcoin & steem, there is a great future ahead as bitcoin has surpassed all predictions and done very well against all negative odds. It should also be noted that steem is gaining in recent days and it is wise for steemians to buy and power up steem before the price skyrockets out of reach like bitcoin is doing especially after next years SMT launch! So let us invest wisely! Buy, hold and power up steem for future gains!

Resteem, upvote and follow for more if you like my blog posts. Send in your predictions in the comment space below on which altcoin you think holds great growth in the near future.

Important info: There will be a free Airdrop for Elyte coin by 8pm GMT Sunday 26th Nov. Join the telegram to get first hand info!. So come on and join the club. 

Read everything about it at bitcointalk.org.https://bitcointalk.org/index.php?topic=2376458.0.

We also have a telegram group:https://t.co/kAhkvVTPBFAnd 

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Read also Sexually Transmitted Power(S.T.P) The Zimbabwean failed experiment.

Source: https://www.express.co.uk/finance/city/874249/bitcoin-price-record-high-why-is-bitcoin-rising-BTC-value