The Last Record Was Not Enough: Bitcoin Arrives at $11,000

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If $10,000 was not a big record for Bitcoin, then which one it is? The cryptocurrency has arrived at $11,400 dollars, some hours ago and it has grown 14 percent in just 13 hours. At press time, Bitcoin is being traded around $10,800.

Bitcoin Crosses to New All Time Highs

In most of the global exchanges, the cryptocurrency has reached $11,400 dollars. In the last 24 hours, it has grown 11 percent and it accounted for a trading volume larger than $10 billion dollars. The Japanese Jen manages 64 percent of the global Bitcoin volume. The US Dollar is the next currency with 20 percent. The Euro and the South Korean Won account for 10 percent of the Bitcoin trading volume in the world.

Coinbase is the exchange that manages 26 percent of the trading volume. Bitstamp and Bitfinex are next with 13 percent each one. Gemini, Poloniex and BitTrex account for 25 percent of the volume.

Bitcoin is expected to find a strong resistance at $11,000. It will also find an interesting support at $10,000. The currency could be fluctuating between $10,000 and $10,800 before touching again the $11K level.

The market is being invaded by big investors since more institutions are adding Bitcoin to their investment options. The Chicago Mercantile Exchange will soon launch Bitcoin futures to their platform. This will allow several institutional and important investors to allocate money in the cryptocurrency market. In the long term, Bitcoin price is expected to keep growing as the market penetration keeps increasing.

Markets Reacted Positively

CoinStaker reported how Litecoin and Ethereum arrived at new records. Litecoin has crossed $100 dollars and Ethereum $440. At the time of writing this article Ripple and Ethereum are down with 1.16 and 8.85 respectively. The other top 10 cryptocurrencies are all operating positively with Dash being one of the best preforming currencies.

Charlie Lee has congratulated the Bitcoin community for the $10,000 record. “Congratulations to all the hodlers! This is by far the strongest Bitcoin bull run I’ve ever seen in 6+ years. Not take some profit off the table. You deserve it for believing when no one else around you did,” he wrote on Twitter.

Bitcoin hits $10,000. ????????????

Congratulations to all the hodlers! This is by far the strongest Bitcoin bull run I've seen in 6+ years.

Now take some profit off the table. You deserve it for believing when no one else around you did. ???? pic.twitter.com/liukpusOZ8

— Charlie Lee [LTC] (@SatoshiLite) November 29, 2017

Dash has become the fifth cryptocurrency by market capitalization, surpassing the new Bitcoin Gold and Litecoin. Dash has skyrocketed since November the 1^st when one Dash was worth $253 dollars. Not it is worth more than $750. Its market capitalization arrives at $5.85 billion dollars.

It has been an incredible year for all the cryptocurrency market. The total market capitalization has reached $336 billion dollars. 54 percent of the market share is controlled by Bitcoin. Ethereum has 14 percent and Bitcoin Cash 8 percent.