With my last estimation, I thought that bitcoin had the potential to reach $10000 before the year ends but with this week alone it almost broke into the $12000 and receded back to $9000 and now the current price is around the $11000 range. I believe that it has the ability to go past $12000 again.
I fully expect it to hit at least 15,000 before the year is over.
The amount of Tethers being created is increasing a lot and I think that has a direct correlation to pumping up all crypto prices(not just btc, I mean everything).
Looks like more were made today and the price will likely go up once they get to the exchanges. The exchanges let people margin trade at BitFinex at a 3.3 to 1 ratio, so they can loan out 1 BTC to people who try to invest with it and it is 3.3 BTC basically, if it goes up they make tons of profits. If it goes down they lose a lot fast.