When This Happens, Bitcoin Could Be Doomed

What's more powerful than a speeding locomotive and can leap tall buildings in a single bound? No, it's not Superman – it's bitcoin. Seemingly nothing can stop the world's most valuable and popular cryptocurrency at the moment.

Earlier this week, bitcoin hit the psychologically important $10,000 per coin mark, then proceeded to blow right through it and surpass $11,000 per coin less than 24 hours later. In less than a year we've witnessed bitcoin increase in value by more than 1,000%, with its market cap briefly topping $175 billion, placing it well ahead of Dow Jones Industrial Average stalwarts like Walt Disney, General Electric, and drug giant Merck. Bitcoin also comprises more than half the aggregate cryptocurrency market cap of 1,300-plus virtual currencies combined.

Image source: Getty Images.

Source: Fool.com