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Money Bitcoin Blows Past $12,000

17:15  27 november  2017
17:15  27 november  2017 Source:   gizmodo.com.au

Crypto Bull Tom Lee Doubles Bitcoin Price Target to $11,500

  Crypto Bull Tom Lee Doubles Bitcoin Price Target to $11,500 The bitcoin bulls are charging. A day after hedge fund manager Mike Novogratz said the cryptocurrency will end the year at $10,000, Fundstrat’s Thomas Lee doubled his price target to $11,500 by the middle of 2018 -- a 40 percent gain from current levels.Lee, who heads research at Fundstrat, said a 10 percent pullback earlier this month triggered by the controversial cancellation of an upgrade to bitcoin’s underlying software has set the stage for the coming surge.The November slump “cleaned up weak hands,” Lee wrote Wednesday in a note to clients that almost doubled his last forecast.

Bitcoin rocketed above , 000 for the first time on Thursday, after adding more than , 000 to its price in fewer than 12 hours. Bitcoin , the world’s biggest and best-known cryptocurrency, has seen a more than fifteenfold surge in its value since the start of the year.

On Wednesday morning the leading cryptocurrency surged past the 12 , 000 mark for the first time. Bitcoin is still polarizing opinions. While some believe firmly in its decentralized structure and the security of blockchain, numerous experts slate Bitcoin and warn of an imminent bubble burst.

a close up of a metal pan© Provided by Allure Media Pty Ltd The Bitcoin bubble continues to stretch to even more grotesque proportions, clearing a value of at least $12,007 per bitcoin and attaining a market cap of $200 billion on Sunday, TechCrunch reported. The strong gains more or less put Bitcoin on a path to clear a value of $13,132 by the end of calendar year 2017, and potentially even more.

While doomsayers have been predicting a massive crash in the cryptocurrency market for years, Bitcoin has largely continued its trend of explosive growth - for now. What might have cost a pittance a few years ago could be worth tens of millions of dollars today.

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Tesla CEO Elon Musk appears to be in deep shit with the SEC over his ill-advised decision to ever, ever tweet. Specifically, he tweeted that he'd secured funding to take Tesla private when, the SEC alleges, that wasn't accurate at all.

Bitcoin rocketed above , 000 for the first time on Thursday, after adding more than , 000 to its price in fewer than 12 hours. It slumped in 2014, after Mt On Wednesday morning the leading cryptocurrency surged past the 12 , 000 mark for the first time. The reason: the ever-swelling demand was pushed

a screenshot of a social media post© Provided by Allure Media Pty Ltd

Other cryptocurrencies like ether have also become very valuable, and the initial coin offering sector - a more or less totally unregulated form of investment vehicle for crypto-backed startups - took in billions of dollars in 2017. Per the Washington Post, even a few high-ranking members of Donald Trump's administration like "budget director Mick Mulvaney and vice president Mike Pence's chief economist Mark Calabria" are Bitcoin boosters.

However, adoption of cryptocurrency by the public at large (or for that matter, by retailers and other firms) has been limited, meaning that most of the growth in bitcoin's value has been driven by speculation and investors looking to get rich quick. The crypto markets in general are littered with shady companies and scams, and bitcoin has a tendency to implode in value every now and then due to occurrences like the crash of trading exchange Mt. Gox, so it's possible something could quickly knock the value back down a peg.

Bitcoin blasts past $10,000 mark amid bubble concerns

  Bitcoin blasts past $10,000 mark amid bubble concerns The cryptocurrency's value has risen nine-fold since the beginning of the year. Tuesday's trading price gives bitcoin a market capitalization of $168 billion, greater than the vast majority of S&P 500 companies, including Dow 30 components Boeing, Disney and GE.Since its founding in 2009, bitcoin has made a name for itself by allowing for anonymous transactions. The digital currency is now accepted by more than 100,000 merchants worldwide, including Microsoft, Dish and Subway. The cryptocurrency has experienced a massive run in 2017. On Jan. 1 this year, bitcoin was priced at just under $1,000.

After crossing the ,000 mark just a week ago, Bitcoin has now soared past $ 12 , 000 today; at the time of writing (4AM GMT), it's at ,253. Perhaps even more notable is that CoinDesk’s Bitcoin BTC Price Index shows that the cryptocurrency’s market capitalization – the valuation of all Bitcoins

Past performance is not indicative of future results. Crypto News doesn't guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on this website or on the show.

But as TechCrunch noted, Bitcoin shows no signs of slowing down in the immediate future to the point where "news of clearing these incremental price hurdles are going to get old." One wonders how long these good times could possibly last.

Bitcoin exchange NiceHash robbed of $64 million from its wallet .
As the value of Bitcoin soars, it also turns holders of large volumes of the currency into prime targets for thieves. For those keeping score, that’s about 4,700 BTC, each worth about $13,617 at the time of the breach.

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