Well, it has happened. Much sooner than the vast majority of people would have predicted too. Bitcoin has officially broken the $10,000 mark. As of this writing, it is trading at just over $10,100, which is also fairly significant. The fact that Bitcoin didn’t hit $10,000 and immediately drop down is going to be surprising to some given the immensity of the $10k mark.
Of course, it can (and likely will) still dip below $10k at least a few times, and may drop very significantly, you never know. The simple fact that it has reached these heights, however, is great news for Bitcoin specifically, and the entire crypto community.
What Does it Mean?
Practically speaking, reaching this milestone will have a few important implications. First, the Internet is about to be flooded with articles about Bitcoin (such as this one). Almost nobody would have predicted it would ever get to this level, so it is going to be news not just in the crypto world, but outside it as well. This will get BTC a lot of new attention, and very possibly a lot of new investors.
For the alt-coin market, it could be good or bad. More money into crypto in general is always a good thing for alt-coins. When people are obsessed with Bitcoin, however, they also pull money out of the alt-market. What exactly happens over the next few days is still unclear.
Overall, however, $10,000 is just another milestone like $7500 was just days ago, and $5000 weeks before that. The rate of growth for Bitcoin is incredible, and if we’re honest, a little concerning. Whatever the future holds for Bitcoin, today is certainly an important event and something most of us will be celebrating.