The digital currency rose to as complete as $10,125 on CoinMarketCap, drawing an approximately 950% gain year-to-date (YTD).
At this level, the cryptocurrency had a business capitalization of $169.2 billion, making it more worthy than corporate heavyweights like Walt Disney Co. and Merck & Co.
Investing in crypto coins or tokens is highly uncertain and the market is largely unchecked. Anyone viewing it should be prepared to lose their entire investment.
While Bitcoin broke into $10,000 on several trades, it did not surpass this key level throughout.
The digital currency passed $10,000 on Bithumb, Coin one, and Korbit, but had declined to climb past this level on any U.S. exchanges at the time of the report.
On Bitfinex, for instance, Bitcoin had risen to as extremely as $9,999 in the last 24 hours, but had not surpassed $10,000.
Arthur Hayes, co-founder, and CEO of leveraged digital currency program BitMEX, stated that he will not hold the $10,000 level broken till Bitcoin rises above that mark on major U.S. exchanges including GDAX.
He added that “Additionally, I do not acknowledge the level occurred until the price tests it as the backer on a down move, and it holds.”
Tim Enneking, leading director of Crypto Asset Management, showed that while Bitcoin has failed to surpass $10,000 on several major exchanges, he is confident that it will.
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 hitting themselves for not jumping on boards sooner.”
Hayes gave 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 contributed more modest forecasts, including Enneking, who stated that “I suspect the price will be playing around 10k for a while.”
Jeff Koyen, a strategic advisor to 360 Blockchain Inc a company that invests in blockchain-based technology, stressed that Bitcoin could suffer some downside in the near-term.
He predicted that Bitcoin wouldn’t stay above $10,000 for quite long, but it also wouldn’t suffer a “major correction.”
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