Bitcoin price passed a new $14,000 landmark yesterday before 6 p.m ET for the first time in a less than 24 hour run from $12,000. The coin is also heading towards the $15,000 mark. Since it is trading at $14,752.40 at CoinMarketCap at the time of this writing.
It appears that the coin’s trend to defy what was termed as a bubble. Thus now its ready to pop that driving more interest among speculators, especially in South Korean markets. In this market, people reportedly pay a premium to get hold of Bitcoin. In fact, latest data from Korbit exchange shows that the price is above $18,000 and nearing $19,000 landmark. Thus, the result of high demand in the market.
The coin is also trading at above $17,000 on Bithumb exchange.
The coin crossed the $14,000 mark on CoinDesk at about 7:20 p.m. ET. The market cap is now over $246 billion, meaning the coin would rank among the 20 largest stocks in the S&P 500.
Earlier on, Bitcoin had crossed another landmark of $13,000 for the first time on Dec 6th,2017. According to CoinDesk Bitcoin Price Index (BPI) after crossing the $12,000 mark in less than 24 hours again.
The increase comes after the cryptocurrency posted a 20 percent drop last week amidst claim of it being a bubble. It means that the coin, which started the year at below $1,000, has now gained more than $13,000 in total.
The price could jump further with the introduction of Bitcoin futures from this weekend. However, seen as a legitimate stamp on cryptocurrency by the crypto community. Tokyo-based largest crypto exchange in Japan BitFlyer, which just gotten a license to operate in U.S. also said it has received strong interests from institutions looking to gain exposure to Bitcoin.
Not everyone shares the joy though, with CEO of Scandinavia-based Nordea Bank AB calling it a joke and head of Denmark’s largest pension fund said they were not comfortable with the coin. Billionaire and Interactive Brokers CEO Thomas Petterfy, who told Fortune that the upcoming futures could trigger a financial crisis similar to 2008’s.
But those voices have done little to stop investor enthusiasm, especially in Asia.