Boom! The Bitcoin rocket went parabolic today, blasting from the low 11,000s through $12,000 and onwards, falling just short of $13,000. While the price has dipped slightly since then, BTC is still showing strength and appears to be building for another push higher.
Above, you can see the current move compared to the Bitcoin bull run of 2017. Once again, the angle of the surge is nearly vertical. Strap yourself in, coz it looks like we're in for a thrilling ride. Bitcoin to the Moon... all aboard!
Bitcoin is on a tear today, smashing through $10,000 and now $11,000, with no signs of slowing down. This latest move, means that BTC's value has more than tripled since its yearly low in February.
The mood amongst cryptocurrency enthusiasts is reminiscent of the 2017 bull run, which reached a point where daily $1,000 moves upward were expected. This time, however, the expectation is for a much higher level to be reached. While such gains are by no means a certainty, the belief in a significant new all time high has Bitcoin history on its side.
Will the dream become reality? In my view, yes. Bitcoin to the Moon!
Bitcoin's move from $9,000 to breaking the $10,000 barrier has been swift, and led to an immediate surge to just shy of 11k. After a slight dip from that point, BTC is now consolidating around $10,700.
If what happened from here in 2017 is anything to go by, then the stage seems set for a monster bull run to a new Bitcoin all time high. The difference being that this time the fundamentals of BTC, and infrastructure built around it, have advanced significantly. Throw into the mix, the announcement of Facebook's crypto project, Libra, and it appears that the perfect storm is brewing for the original cryptocurrency, Bitcoin, to go where it has never gone before.
Bitcoin smashed through $9,000 just moments ago and is still on the rise as I type. This comes after a couple of previous attempts over the past three weeks, the second of which, saw the price plummet by $1,100. The recovery from that point, demonstrated the strength of the present BTC market, with a base established for the current push upwards.
During the 2017 crypto bull market, once Bitcoin broke the $10,000 barrier, the move to $20,000 was swift. Right now, if Bitcoin gets to 10k, increased awareness will see an even greater mainstream media frenzy than last time. The fear of missing out that this will create, combined with a huge increase in the quantity and capacity of Bitcoin onramps, could see unprecedented numbers of new investors piling in. Then... you do the math... Bitcoin to the Moon!
Bitcoin to the Moon is dedicated to following the original cryptocurrency on a journey to its ultimate destination.
Like what you've read?
Support the site by leaving a tip in Bitcoin using the QR code above or the address below.