Bitcoin: it’s over 9000 (dollars)!

With Bitcoin’s price currently hovering around $9,400 on Coinbase, it’s time for the obligatory “it’s over 9000” post. Bitcoin’s value has been increasing steadily over the past 48 hours, hitting new all-time highs nearly hourly—and it doesn’t look like it’s slowing down. Let’s all pause and remember that one bitcoin cost a mere ~$700 just one year ago!

The rapid recent price inflation is probably due to the “Thanksgiving effect”. Holidays are a prime opportunity for tech-saavy family members to extol the virtues of cryptocurrency to less technology-literate relatives. I’d wager that quite a few Thanksgiving dinner discussions revolved around Bitcoin, which caused masses of newly-exposed people to invest (Coinbase reportedly added over 100,000 new users on Thanksgiving).

It’s not just Bitcoin that’s up—cryptocurrency in general has seen double-digit gains over the past week. Ethereum and Litecoin are actually both up more than Bitcoin, at ~30% and ~20% respectively.

I’ve been telling people for months that 2018 will be the year of the five-figure Bitcoin. It looks like I was probably wrong—at this rate, we’re going to see Bitcoin top $10,000 before 2017 is over.

One Response to Bitcoin: it’s over 9000 (dollars)!

  1. Zelda says:

    Hadn’t thought about the Thanksgiving effect, but cryptocurrency was discussed around our feast. Meanwhile the mining rig hummed along in the basement.

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