Bitcoin is not shy about making headlines and has done so on a number of occasions before. Even though Bitcoin mining is consuming outrageous amounts of energy, it has not stopped people from getting creative and even Samsung used its old phones to set up a mining rig.
The latest news is that Bitcoin has soared past the $10,000 mark and has no intentions of stopping. It did hit some lows at the beginning of the year. The up and down trend of the currency has seen it going higher and higher. Less than ten days ago on November 20th, it hit an all-time high of $8,200, then reached another high of $9,000 on November 26th and only two days after that, it has hit the $10,000 mark.
Looking at the cryptocurrency now, one would assume that it had been a smooth sailing ship but that has not always been the case, one year ago on this date, Bitcoin was aiming to hit $1,000. There were also some lows at the beginning of the year when the forking of the cryptocurrency divided it into Bitcoin Gold and Bitcoin Cash.
Concerns were raised that this forking would lead to a downfall in the value but they are yet to be seen as it continues to go up and up. This rise in value has already exceeded the expectations of many high profile economists who are left dumbfounded and if the trend continues, the value could go up to $25,000 in the next five years.
We will have to keep an eye out for the everchanging price of the cryptocurrency and see if the economists are proved wrong once more.
