For over the past 15 months, this is the first time for Bitcoin to have touched $11,000. This recoupment is more than the parabolic increase of the price which recently captured the attention of mainstream media. The parabolic increase was the point of attention before the bubble burst.

George McDonaugh, chief executive and co-founderof KR1 Plc stated, “The bounce-back of Bitcoin has been fairlyextraordinary." He further stated,“Money didn’t leave the asset behind, it just sat on the sidelines waiting toget back in."

The Bitcoin rally is continuing to move with agathered pace.

The price of the Bitcoin went as high as $11,251.21 on Monday with a 13% gain ever since late Friday which is the highest levels ever since March 2018.

The onlookers were perplexed about the rise inthe price of the Bitcoin and they were trying to identify a reason for thesurge. There is a lot of complexconversations revolving around Bitcoin and this is one of the major reasons forthe price surge. There were fewerconcerns about fraud and there is a shift in the pattern of how people aretalking about Bitcoin and the kind of projections about Bitcoin for the futureare different now than ever before.

Matt Greenspan, stated, “The market has maturedgreatly since the last time Bitcoin crossed $10,000," He further added, “Thisrun is far more justified given the current level of adoption."

When compared to the past year, there is a signof improved mainstream interest in Bitcoin. With Facebook Inc. coming up with Libra,and working with broad groups ofpartners from Visa Inc., Uber Technologies Inc. and others to develop the managementsystem for Libra has caught up with lot of attention and criticism frompoliticians, thereby increasing privacy and security discussions amongregulators and governments.

The coming of the Libra “is validating the cryptospace and sending all the major digital coins higher," Edward Moya, of OandaCorp in New York stated, “Bitcoin volatility is likely to persist, with $12,000and $15,000 as the next two critical resistance levels."

Whitney Tilson, founder of Empire FinancialResearch stated, “Bitcoin is “exhibit A" in the lexicon of “scams thatenrich insiders at the expense of average folks."

There are several others who are warninginvestors to be cautious as they feel that in a year from now it will be farlower. This they feel is yet anotherpump and dump scheme which is all going to affect the average folks.