Bitcoin skyrockets over $10,000 and experts predict further growth
The world's major currency reaches the mark for the first time since is bull run in late 2019
During the weekend Bitcoin (0'>BTC) broke through an important psychological threshold of $10,000 — a mark that has been unattainable since the coin started declining in September 2019.
The world's major currency triumphed on Sunday, February 9, hitting its highest level in more than four months. BTC managed to hold above $10,000 for several hours and then pulled back.
At press time, the price of the asset was hovering around $9,990. Bitcoin's dominance on the market was 63.6 per cent, and the market cap amounted to $181.3 bn.
The surge was preceded by Bitcoin futures that jumped to $10,000 on February 7 on CME. However, the analysts have predicted the bull run on the crypto markets much earlier, when Bitcoin hit $9,000 late January.
Now the experts await BTC and major altcoins growing further and reaching new heights. Arthur Hayes, co-Founder and CEO of BitMEX, believes that BTC is going to hit $20,000.
George Kikvadze of Bitfury compared BTC to the world's main safe-haven asset, 0'>gold. According to Kikvadze, Bitcoin is up 40 per cent so far this year, while gold has grown by only three per cent
While traders and experts disagree on the further moves of Bitcoin, renowned trader and analyst Willy Woo thinks that the recent surge is backed by "fundamental investment activity" that will support the new moves.
It is worth reminding ourselves that another Bitcoin halving is coming in the next three months. Halving typically sends prices up. Currency.com expert Mikhail Karhalev expects the coin to get back to $12,000 prior to the halving.
FURTHER READING: Bitcoin halving: could it reach $170K per coin?
FURTHER READING: Anticipation grows ahead of Bitcoin halving