Even as the price of Bitcoin continued to rise, setting record highs, skeptics still continued to doubt. But here we are, the current price at time writing, $9850.00 US Dollars. And I can almost guarantee that it will reach and possibly pass the $10,000 mark within the next 4 hours.
“While there has been a slew of bullish news for Bitcoin of late, the rapidity of the ascent to $10,000 has taken many of us by surprise,” said Chris Burniske, an investor and a co-author of the book “Cryptoassets.”
Bitcoins are stored and traded on a decentralized network of computers that is not under the control of any government or company. That has been attractive to people in countries, like China and Zimbabwe, where the government has a history of seizing bank accounts and assets.
The growing number of people using it in all these countries, often against the wishes of their governments, has also underscored the degree to which the software that manages Bitcoin has remained impervious to hackers and government control for nearly a decade.
Author and investor William Mougayar said, "Bitcoin has had an incredible momentum that is both psychological and technical. This might be the tipping point for mainstream adoption,"
An un-easy feeling is shared on both sides as the price reaches the $10,000 mark, what some have referred to as the "psychological barrier"
But the fact is, we are at a point where you can no longer ignore it. Bitcoin is real, and it is showing no signs of going anywhere. Well aside from up anyway.
Some financial and investment experts have predicted the price to reach $50,000 and even $100,000 by mid 2018.
This can seem a bit confusing for some, especially the ones who let the media and those against bitcoin tell them what to think. But the best way to understand and grasp the reality of Bitcoin, crypto-currencies and the Blockchain, is to educate yourselves.
And don't think it is to late to invest. You may not have jumped on the train in time for bitcoin, but there are others that are worth looking at. Check out Ethereum (ETH) for example. (More on that one later)