Bitcoin is breaking through symbolic price barriers every few weeks

Bitcoin is breaking through symbolic price barriers every few weeks

6 years ago
Anonymous $ZOEEBQ1zf0

https://qz.com/1138471/the-bitcoin-price-btc-is-nearing-10000-as-it-rapidly-breaks-through-symbolic-barriers/

If it seems like bitcoin is hitting new highs more frequently, it’s not just your imagination. The cryptocurrency is smashing through psychological barriers—that is, big round numbers—with increasing frequency.

In part, this is simple math: The jump from $1,000 to $2,000 is much steeper, in percentage terms, than from $8,000 to $9,000. Still, as bitcoin surpasses each new symbolic level it generates more attention, potentially attracting more buyers who want to get in on the action.

Bitcoin is breaking through symbolic price barriers every few weeks

Nov 27, 2017, 1:16pm UTC
https://qz.com/1138471/the-bitcoin-price-btc-is-nearing-10000-as-it-rapidly-breaks-through-symbolic-barriers/ >If it seems like bitcoin is hitting new highs more frequently, it’s not just your imagination. The cryptocurrency is smashing through psychological barriers—that is, big round numbers—with increasing frequency. >In part, this is simple math: The jump from $1,000 to $2,000 is much steeper, in percentage terms, than from $8,000 to $9,000. Still, as bitcoin surpasses each new symbolic level it generates more attention, potentially attracting more buyers who want to get in on the action.