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Tell us what you think: Where does bitcoin go from here?

  • Bitcoin traded above $5,800 for the first time
  • The currency has been subject to wild swings
  • Proponents of the cryptocurrency have forecast the market capitalization of bitcoin to reach $1 trillion by 2025
Alexander Demianchuk | TASS | Getty Images

JPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are "stupid," but that didn't stop the cryptocurrency from trading at records above $5,800 last week.

Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in the next eight years. (The market cap is currently about $93.55 billion, according to industry outlet Coindesk.)

Still, the virtual currency remains subject to wild price swings, and attempts by government regulators to crackdown on the cryptocurrency have unsettled investors. Just last month, the price of bitcoin fell around 13 percent following news that one of China's largest bitcoin exchanges said it would be stopping operations.

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