Bitcoin Hits Staggering High Of Over $11000

Bitcoin Hits $11000

Bitcoin officially passed $11000 mark on Wednesday morning before dropping back to over $10000.
The cryptocurrency tore through $11,000 early on Wednesday 29 November, hours after it passed the  $10,000 mark for its very first time. According to CoinDesk, bitcoin had risen all the way to $11,377.33.

It was back to below $11,000 after an hour as the new milestones made it highly volatile.

"Parabolic rallies are inherently unsustainable, otherwise bitcoin's value would surpass all the wealth of the world within a few years," Ari Paul, CIO and managing partner at cryptocurrency investment firm BlockTower Capital, said . "But ... while the pace of the rally is unsustainable and there will inevitably be corrections and crashes over time, it remains 'cheap.'"

The currency was 6 cents seven  years ago and less than $1000 at the start of 2017.

Below were the reactions on Twitter;

 In August, Bitcoin Hits The $3000 Mark To Reach An All Time High and nobody thought it would get to these levels.

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