Bitcoin is looking as strong as ever over the past few months. Although the cryptocurrency has been around for just eight years, there has been plenty of speculation where the bitcoin price is concerned. In fact, the bitcoin is worth over US$800 for 90 days straight now, which is cause for some celebration.
A Very Hot Streak For Bitcoin
Truth be told, there have been times when even bitcoin enthusiasts felt things would not end well by any means. Bitcoin saw a significant drop-off after its 2013 high, although that was only to be expected. After all, such a massive value spike was unnatural and it was only a matter of time until the BTC value came crashing down hard. Unfortunately, that meant the BTC price went into the low triple digits, which could have spelled disaster for this currency.
However, one thing a lot of people tend to forget is how bitcoin is by far one of the more versatile currencies in the world. Granted, there has been a ton of volatility over the past few years, yet it seems things have somewhat calmed down. This is partially due to the PBoC forcing Chinese exchanges to halt their leveraged margin trading altogether, a change that is well-received in the bitcoin world despite some initial concerns.
Fast forward to today, and it is evident things are looking quite well for bitcoin right now. With a 90-day streak of a bitcoin value over US$800, it seems evident to think the price can only go upward from here on out. Then again, all it takes is one piece of negative news to send the price plummeting once again. We can only hope investors and bitcoin holders have finally learned their lesson and won’t give in to panic selling once this news comes.
At the same time, the current bitcoin price is only a few dollars short of reaching a new all-time high. While some people would like nothing more than to see that threshold getting breached sooner rather than later, a sudden spike will only cause an even more sudden decline in value afterward. No one will be surprised if bitcoin breaks through the previous all-time high over the next few days, yet there is no reason to rush things either. Stability is critical right now, and so far, things seem to evolve in that direction.
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