Bitcoin has quadrupled in value in six months
Thought that the days of cryptocurrency bubble are behind you? Think again.
On Tuesday, the price of Bitcoin hit a new yearly high of $12,867 per coin according to CoinMarketCap, and that’s after crushing the psychological $10,000 barrier just days ago.
To put things into perspective: The price of Bitcoin has quadrupled in just six months after hitting a yearly low of about $3,200 in Dec. 2018.
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The price growth has been relentless, even when many experts expected a pullback, or at least a pause.
This BTC action looks aggressive. Makes me think that we may blow through $10k and test $12k very soon, but $12k is a very heavy resistance level, so I would expect consolidation around the $10k level for some time if $12k is (likely) rejected.
— Vinny Lingham (@VinnyLingham) May 31, 2019
While it’s quite amazing that BTC isn’t all that far from its all-time-high of $19,900, which it reached in Dec. 2017, some traders are forecasting much higher numbers this time around.
$BTC is likely to hit $60k+ this coming uptrend…
And people seriously forfeit 500% gains to try catch 10% moves with shorts
¯_(ツ)_/¯
— Josh Rager 📈 (@Josh_Rager) June 21, 2019
One reason behind the optimism is the “halvening,” a recurring event in which
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