Bitcoin is now worth over $1.5 trillion and has surged past the $10,000 mark in recent weeks, according to cryptocurrency price tracker CoinMarketCap.
The cryptocurrency surged more than 10% on Friday, and is now trading around $10.7 million.
Its value has risen more than 80% over the past year, according the CoinMarketMarketCap database.
While the cryptocurrency has gained in popularity, its fundamentals are far from pristine.
Bitcoin has struggled to gain acceptance for mainstream use.
It’s still not widely accepted as a currency.
On top of that, Bitcoin transactions are often conducted via Bitcoin exchanges and exchanges are not necessarily well-regulated.
With all of this in mind, CoinMarketcap believes Bitcoin’s price could be in for a correction.
“Bitcoin is now a bubble.
It is now the most volatile asset on the planet,” said CoinMarketCAP CEO Tim Swanson in a recent interview.
For now, though, the cryptocurrency is showing signs of stabilizing, according Tobermory’s Ben Schmitt.
In a recent tweet, Schmitt wrote: “As far as the price of Bitcoin goes, it’s trending upward.
There is a very good chance it will reach $10k before the end of the year.”