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Bitcoin has reached new heights

Today bitcoin has officially hit a mark of $9,000.

26.Nov.17 2:48 AM
By Daria Zaytseva


Bitcoin has reached new heights

This happened against the backdrop of mass adoption by users of hedge funds, the soon appearing futures markets and the further increase in the number of users.

Many expected the price to fall for the weekend on Thanksgiving, in part because of the closure of U.S. banks. However, over the past week, the price showed strength, consolidating into low $8,000. Twice the price dropped briefly to $7,800, but those failures were quickly bought.

Apparently, people did not just take advantage of Black Friday to buy TVs and electronics, but also stocked up on Bitcoin. Yesterday, the price started to rise, as the market began to increase volume, and today it overcame the next serious psychological barrier of $9,000.

The thought of many large financial analysts views Bitcoin as a bubble, the market showed no signs of a so-called "blow from above," which means that a sudden and significant change is currently unlikely. Bubble cycles often end in a massive price spike, which is almost immediately followed by an even bigger sale. The next major hurdle and, perhaps, the largest psychological barrier for all is $10,000.

Analysts, such as the usually bearish Tom Lee, the founder of Fundstrat, are turning bullish. Lee recently indicated that his outlook for the near term is $14,000. He explains the short fall that followed the cancellation of SegWit2x as the shaking out of weak hands.

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