Bitcoin Price Hits $11K Less Than 24 Hours After Breaking $10K Mark
June 22 — bitcoin (BTC) has crossed the $11,000 line for the first time since March last year today, according to Coin360. The leading cryptocurrency had surged past the $10,000 mark less than 24 hours ago.
Market visualization courtesy of Coin360
Bitcoin is currently already approaching $11,100, up a notable almost 13 percent in the past 24 hours to press time. Meanwhile, major alts have also surged, with ETH seeing a multi-month high over $300.
Bitcoin 7-day price chart. Source: Coin360
Yesterday, on June 21, professional trader Peter Brandt tweeted that bitcoin’s price is currently taking aim at $100,000 target.
In his tweet, Brandt noted that bitcoin is on its fourth parabolic growth phase and is a market like no other:
“Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”
Attached to the tweet, Brandt also published a table containing data about the price growth of bitcoin. According to the data contained in the image, from October 2011 to December 2017, bitcoin increased its value 9,765-fold.
Earlier this month, the founder and CEO of Digital Currency Group argued that it “looks like, perhaps, we are coming out of a crypto winter and we’ve entered a crypto spring,” in an interview with Bloomberg.
However, in an interview with Cointelegraph the same week, another industry commentator — ex-Wall Street executive and current blockchain researcher Tone Vays expressed skepticism about the fact that crypto winter is over.