Contrary to what I had thought, $10,000 provided minimal resistance, as Bitcoin pushed past that mark and onwards beyond $11,000. At the time of writing, BTC is trading above 11.2k.
This is welcome news to many who feared the worst when Bitcoin retraced from its mid-December 2017 high of nearly $20,000 to below $7,000. And for those who bought the dip, well ... nicely played.
While it appears that the bulls are back, this is Bitcoin, which continues to surprise with its fast paced, short term unpredictability. For traders, this environment has provided the possibility of huge gains, but also massive losses.
For long term holders, the gains have come despite the downturns, because so far, the market has always rebounded to reach new all time highs. Are we about to surge to another one? For me, it's too early too tell, yet at the same time, I certainly wouldn't be surprised if it did.
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