CRYPTOCURRENCY
Bitcoin breaks $11,000 barrier
Hitting almost $11,400 per coin, the digital currency has now gained about 1,000% year-to-date
The price of the cryptocurrency bitcoin smashed through $11,000 on Wednesday — less than 12 hours after bursting through the $10,000 mark. Hitting almost $11,400 per coin, the digital currency has now gained about 1,000% year-to-date. But if some analysts are to be believed, ten times is "easily" on the cards. Chris Becker, economist and Blockchain lead at Investec Bank, said on Wednesday that while the cryptocurrency may have "gotten ahead of itself" right now, "the price projection I have pencilled in is $100,000. I know, it sounds nuts." Bitcoin’s rise in 2017, according to the Guardian, has been the largest of any asset class. But, drawing comparisons between previous rallies the cryptocrrency has enjoyed, the price is only up about 5,000% since it hit a low in January 2015. Previous rallies, from July 2010 to mid-2011, and from 2012 to 2014 have seen bitcoin soar just less than 40,000% and 55,000% respectively. Described by some as "digital gold", bitcoin is increasingly going ...
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