This is what happens when you try to stop the unstoppable!
Bitcoin seems to be going from strength to strength, recording a new all time high of $8725 on Saturday. While this is impressive in itself, investors who held Bitcoin before August 1 are doing even better, as the combined price of Bitcoin and Bitcoin Cash has crossed $10,000.
New all time high
After a relatively quiet few days, Bitcoin seems poised to resume its uptrend. The price jumped up from a low of $8,200 to cross $8,700 in under 12 hours. The rally seemed to be driven by retail investors in Asia, with the largest volume being traded on Bithumb and Bitfinex. Bitcoin seems to have shrugged off the $30 mln hacking of Tether, which some had speculated could destabilize Bitfinex and by extension Bitcoin itself. Bitcoin bulls like Ronnie Moas and Mike Novogratz who predicted that Bitcoin would reach $10K in 2017 may be proven correct shortly.