After the past few days of rolling through the mid and high $9,000 range and giving the crypto community something of a big scare, it looks like bitcoin is back in the game and trading above the $10,000 mark once again.
Bitcoin Is Now Back Where It Belongs
Bitcoin has gone through a strange weekend – a strange week if you want to take things a step further. The currency gave everyone the burn when it decided to drop by roughly $400 late last week after trading for approximately $10,400 for some time. Everyone was so sure that the bulls had retaken their power back, but the drop put fear and doubt in everyone’s minds.
From there, the falls didn’t end. The world’s number one cryptocurrency by market cap lost another $300 following news that it was about to be hit with hardcore regulatory tactics sometime in the coming future thanks to efforts from the Secretary of the Treasury.
For the most part, bitcoin fell by roughly $800 within a very short period, dropping from about $10,400 to approximately $9,600. Yesterday, however, it rose back up to about $9,900 and now, the cryptocurrency has shot up another $200 and has surpassed the $10,000 mark again during the early morning hours for a total of $10,100. Thus, the currency has added another $500 to its overall price in just 48 hours.
Yesterday, Live Bitcoin News reported that the “golden cross” was being viewed on the cryptocurrency’s technical charts, and that the asset was in line for another major rally in the coming weeks. More sources are reporting on this cross, stating that the last time such a symbol appeared on the bitcoin plane, the currency rose by a whopping 170 percent. Could it be that bitcoin will do the same again?
If that’s the case, we can certainly expect the digital currency to surpass its all-time high of nearly $20,000, which it hit in late December of 2017. A 170 percent spike in bitcoin right now would mean that it’s $10,100 price would more than double, thereby bringing the currency beyond the $25,000 range. Possibly even more…
In addition, filmmaker and broadcaster Max Keiser predicted that bitcoin would reach a price of approximately $400,000. While he didn’t give a specific timeframe for the asset, he has been working to predict bitcoin’s price for roughly eight years, and initially stated that the currency would hit the $100,000 mark. Now, he’s tripling this figure.
Adding So Much More to the Numbers Spectrum
In an interview, he states:
I first made this prediction when it was one dollar. I said this could go to $100,000. I’m raising my official target for the first time in eight years. I’m raising it to $400,000.
As it stands, the currency’s latest goal is $10,500 – a $100 jump beyond its previous record for the year.