Transnational currency cum commodity icon – the Bitcoin has registered $10000 per unit on Tuesday. The currency has now an aggregate value of $178 billion which is bigger than the market value of major MNCs including Samsung and IBM.
At the end of the trading session, the wonder crypto currency has shed $1000 to reach at $10000 from its highest value of $11000 at the Coin Desk Bitcoin Price Index (BPI).
The crypto currency was getting stronger and stronger since January this year; surging from nearly $900 to $10000 in nine months. Rising investors interest and increased use by global tech world has boomed interest in the digital currency.
There are several hope and warning signs from around the world about the future value of the currency. Already, unusual and eccentric speculative interest is heating it. Bullish speculators estimate that the currency may reach $40000 by the end of 2018.
The currency has undisputedly entered a bubble zone and a correction can happen with any negative news including regulation intervention from commodity regulators. There are several market observers who predict that regulators may come live when the currency gets systemically important. The bigger the bubble, bigger will be the burst.
*********
