Bitcoin (BTC) continues bullish run reminiscent of 2018
This pump has been as a result of positive fundamental news that has filtered into the cryptospace in recent weeks. Although a correction has occurred in the past hour with the price dropping to $13,250.
Despite this there is an overwhelming positive sentiment in the market that Bitcoin is on its way to $20,000. This is because the current slope of Bitcoin is similar to that of January 2018 that led to the record bullish movement that peaked at $20,000.
Some crypto analysts believe that the next logical step for Bitcoin is to move all the way to the $17,000 mark.
According to analyst CryptoHamster the next step for Bitcoin would be to break the $13k mark and hold above $14k. thus opening targets to hit the $17k point.
Max Keiser Bitcoin prediction of $28k
Notable Bitcoin maximalist Max Keiser believes that the leading coin could go a step further tweeting that Bitcoin could hit $28k in the coming weeks.
There have also been speculations relating the halving of Bitcoin to the current trend engulfing the crypto market. According to Messari ace Jack Purdy, the current market run has similarities to the last halving that occurred in 2016.
Bitcoin continues to defy all expectations and is performing better than its peers including the much valued gold and stocks. This is despite the coronavirus pandemic which resulted in a crash in global finance.