In an interesting turn of events, Bitcoin (BTC) manages to hover above the $11,000 mark. This price was last made in April 2018 according to Crypto NewsZ. Further reports have revealed that investors are now eyeing the next possible threshold at $11,500. The last time it broke this amount, Bitcoin had created a definite buzz and went all the way to creating history in 2017.

This year, however, observers are being very positive that the surge is sustainable.

Market insiders have hopes that the coin will be able to cross into $20,000 territory by the end of 2019. It had never failed to walk, according to a modest analysis by most traders.

Today, the coin opened trading at $10,237, according to chart analysis. Bitcoin to USD values remain at $11,024.24, while the return on investment (ROI) is marked at 8,048.00%. As the chart shows, the rate for bitcoin is trending upward, and it may continue to do so near the end of the year.

Many people began speculating about the spectacular rise of the cryptocurrency. Some say that bitcoin is in a regular 'cycle' where the amount goes up during a specific time of year. Others, yet, are tagging Facebook for the credit.

According to Yahoo! Finance, however, that is certainly not the case, as Bitcoin was already up to its impressive value even before Facebook announced its interest in launching a cryptocurrency called "Libra" and the succeeding Calibra.

Before news about Libra broke out, Bitcoin was already on the way up with 200% of value added to the coin. The announcement also affected bitcoin for the first few days, sending it to lower instead of higher, before it went back up.

It is because of this that some people thought Libra was "bad" for bitcoin. Libra has some big-time backers--Lyft, Paypal, Stripe, Spotify, Uber, Visa, and Mastercard are among those who put their backing behind the FB cryptocurrency. It certainly seems so, if what Dante Disparte said about it is to be the basis of judgment. The Libra Association head of policy said that Libra was better than bitcoin, which was a "speculative asset."

Facebook certainly seems to have created the trend for companies using their own bitcoin. JP Morgan just recently launched their own JPM Coin. CFTC is looking to LedgerX to represent them. There is just a trend that bitcoin should get used to, even as they are looking to repeat the bull run of 2017.