As in what happens to be a revisit of 2017, Bitcoin price smashed past the $18,000 level pushing the total digital asset market capitalization above $500 billion.
It was temporary excitement, however, as the cryptocurrency took a u-turn and decreased by more than $1,000 just moments after touching its intraday high.
Bitcoin Latest Price Blasts Past $18,000 Again After 3 Years, $100,000 Possible
Bitcoin looks ready for the moon mission and may have, already left the base. The cryptocurrency leader just blew past the $18,000 resistance level with a 10 percent jump after exactly 3 years.
The entire cryptocurrency community was awestruck at this marvelous repeat of a bullish history. Quite a lot of them expressed their disbelief/excitement on Twitter, expecting BTC price to chart a higher course post this latest price feat.
Dan Tapiero, a reputed investor with more than 25 years of experience, went ahead and remarked that the current bullish bitcoin wave would make 2017 look way too small. He also said that this rally is a result of inherently strong and solid fundamentals instead of shallow speculation.
TradingView based chartist KingThies, said this latest bitcoin price is repeating history all over again.
He explicitly called bulls to have a “$100,000 BTC at the back of their minds”. It may look impossible to even assume the possibility, but “one has to consider the logic on what the next trend high looks like, as we approach the current all-time high of $19.5k”. King commented:
“Sure there will be blood in the water by the time it happens, and many will be in disbelief when it does, but the overall train of thought I have is almost conservative compared to her explosive history of 4,000% or 1,500% returns in a matter of months. That said, as we near ATH, 500% from current ATH is absolutely realistic.”
This was also in line with what CryptoPotato reported yesterday: It only took BTC about six days since it broke $17K to reach its ATH back in 2017.
The Excitement Was Shortlived
In a sudden twist of events, bitcoin’s price did what it usually does best, and it took a u-turn. In about 20 minutes, the price had lost over $1,000, going from a high of around $18,500 all the way down to $17,230 and rose up slightly again.
It is now trading at around USD 17,799.
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