Bitcoin in the History, hits $10000-wall

Bitcoin hit the $10,000 mark for the first time Nov. 28, passing the milestone on several exchanges and indexes. When you consider the digital currency’s rapid growth, you might think that people who say a single bitcoin could be worth $50,000 in the next decade might be onto something.

After a day of tepid approaches toward the total, the price of bitcoin rose above $10,000 on CoinDesk's Bitcoin Price Index (BPI) for the first time in history on Tuesday.

Having scaled to $9,000 this weekend, the world's largest cryptocurrency by market capitalization hit a new high of $10,044 at 1:45 UTC, market data shows. The move came after exchanges in South Korea saw trading above that threshold yesterday and today, though U.S. exchanges had yet to mark the milestone.

However, domestic exchanges including Coinbase's GDAX exchange, Paxos's itBit exchange and Gemini, were all posting spot prices above the $10,000 mark.

With the move, bitcoin is now up more than 900 percent on a year-to-date basis, with prices climbing 230 percent since a low of $3,000 in mid-September.

So why buy Bitcoin? Well, there’s plenty of reason to be bullish on cryptocurrencies. Institutional investors have signaled increased acceptance in the asset. Beside the forthcoming Chicago futures, payments company Square says it will allow some users to buy and sell the cryptocurrency. Hedge fund billionaire Michael Novogratz, who once said the cryptocurrency boom had topped out around the time bitcoin prices hit $3,000, now suggests that the coin could reach $40,000 by the end of 2018.