Bitcoin exceeds $10,000, up roughly 950% this year bitcoin news site

The digital currency rose to as much as $10,125 on coinmarketcap, representing an approximately 950% gain year-to-date (YTD).

At this level, the cryptocurrency had a market capitalization of $169.2 billion, making it more valuable than corporate heavyweights like walt disney co. And merck co.

[ed note: investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Mixed success

While bitcoin broke through $10,000 on several exchanges, it did not surpass this key level everywhere.

The digital currency exceeded $10,000 on bithumb, coinone, and korbit, but had failed to climb past this level on any U.S. Exchanges at the time of report.

On bitfinex, for example, bitcoin had risen to as much as $9,999 in the last 24 hours, but had not surpassed $10,000.Bitcoin news site

Arthur hayes, co-founder and CEO of leveraged digital currency platform bitmex, stated that he will not consider the $10,000 level broken until bitcoin rises above that point on major U.S. Exchanges including GDAX.

He added that ”additionally, I do not consider the level broken until the price tests it as support on a down move, and it holds.”

Tim enneking, managing director of crypto asset management, emphasized that while bitcoin has failed to surpass $10,000 on several major exchanges, he is certain that it will.

What’s next for bitcoin?

As for where bitcoin prices will go next, analysts offered mix input.

The “ next price target is 20k,” said charles hayter, co-founder and CEO of digital currency platform cryptocompare. “A lot of investors will be kicking themselves for not jumping on boards sooner.”

bitcoin news site

Hayes provided an even more optimistic figure, stating that once bitcoin meets his standard for breaking through $10,000, his next target is $50,000, a level he has set for the end of next year.

A handful of other analysts provided more modest forecasts, including enneking, who stated that “ I suspect the price will be dancing around 10k for a while.”

Jeff koyen, strategic advisor to 360 blockchain inc., a company that invests in blockchain-based technology, emphasized that bitcoin could suffer some downside in the near-term.

He predicted that bitcoin wouldn’t stay above $10,000 for very long, but it also wouldn’t suffer a “major correction.”

Regardless of how bitcoin behaves in the short-term, simply surpassing the $10,000 is “excellent” for the digital currency, as well as the broader cryptocurrency space, stated enneking.Bitcoin news site

“the bigger the ecosystem is, the more people it can accommodate.”

Disclosure: I own some bitcoin and ether.

MORE FROM charles bovaird, contributor

The digital currency rose to as much as $10,125 on coinmarketcap, representing an approximately 950% gain year-to-date (YTD).

At this level, the cryptocurrency had a market capitalization of $169.2 billion, making it more valuable than corporate heavyweights like walt disney co. And merck co.

[ed note: investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Mixed success

While bitcoin broke through $10,000 on several exchanges, it did not surpass this key level everywhere.

The digital currency exceeded $10,000 on bithumb, coinone, and korbit, but had failed to climb past this level on any U.S.Bitcoin news site exchanges at the time of report.

On bitfinex, for example, bitcoin had risen to as much as $9,999 in the last 24 hours, but had not surpassed $10,000.

Arthur hayes, co-founder and CEO of leveraged digital currency platform bitmex, stated that he will not consider the $10,000 level broken until bitcoin rises above that point on major U.S. Exchanges including GDAX.

He added that ”additionally, I do not consider the level broken until the price tests it as support on a down move, and it holds.”

Tim enneking, managing director of crypto asset management, emphasized that while bitcoin has failed to surpass $10,000 on several major exchanges, he is certain that it will.

What’s next for bitcoin?

As for where bitcoin prices will go next, analysts offered mix input.

The “ next price target is 20k,” said charles hayter, co-founder and CEO of digital currency platform cryptocompare.Bitcoin news site “A lot of investors will be kicking themselves for not jumping on boards sooner.”

Hayes provided an even more optimistic figure, stating that once bitcoin meets his standard for breaking through $10,000, his next target is $50,000, a level he has set for the end of next year.

A handful of other analysts provided more modest forecasts, including enneking, who stated that “ I suspect the price will be dancing around 10k for a while.”

Jeff koyen, strategic advisor to 360 blockchain inc., a company that invests in blockchain-based technology, emphasized that bitcoin could suffer some downside in the near-term.

He predicted that bitcoin wouldn’t stay above $10,000 for very long, but it also wouldn’t suffer a “major correction.”

Regardless of how bitcoin behaves in the short-term, simply surpassing the $10,000 is “excellent” for the digital currency, as well as the broader cryptocurrency space, stated enneking.Bitcoin news site

“the bigger the ecosystem is, the more people it can accommodate.”

Disclosure: I own some bitcoin and ether.

MORE FROM charles bovaird, contributor