The Bitcoin price hit a new ATH this year that amounted to $ 5,600. The next stop looks to be $ 6,000. HODLers are daring to dream … But let’s keep a little perspective. All major coins are still a lot far away from their full-time posts. However, it can be essential in itself. After all, the bounce can only be higher.
There is only one way to go from here
Do you want the good news or the bad news first? Let’s start with the bad.
After all, Bitcoin (BTC) is through a key resistance level and forms its first golden cross since the 201
5 bottom. It is still a massive 72 percent from its high time in December 2017.
Eter (ETH) is off with a whopping 88 percent, and Ripple is even worse at 90 percent. Let’s not get started on Bitcoin Cash … They are getting back pretty hard in November last year and currently down 92 percent from historic highs. Other alcoins are also struggling, namely: XRP: 90% EOS: 76% LTC: 78%
- ADA: – 93%
- XLM: – 87% TRX: – 89% XMR: – 87% DASH: – 91% MIOTA: – 94%
- NEO: – 94%
- OMG: – 92%  So what’s the good news then? Why are traders and HODLers all over the world so excited? Jo, market analyst Rhythm Trader rightly observes … with statistics like this we can only go up from here.
Bitcoin is better placed for a bull run than 2017
Apart from the subdued encouragement that things can only get better, there are lots of other reasons why it looks rosy towards BTC. Unlike the latest epic bull run, the price of bitcoin has been steadily built since 2017.
There are now much better bases in terms of rising transactions, usage and hash prices. More murky and sh ** coins have been washed out, there are more fiat ramps, proven use cases and much more besides.
Bitcoin is now on a scale, has received great institutional support and already proven that $ 20,000 is a realistic goal.
At the same time, we must all remember that nearly 80 percent of the total 21 million bitcoin has already been recovered. The halving, which will reduce the sales pressure on the market, is now less than 400 days away.
Industry Insiders Calling for Parabolic Growth
We’ve all heard John McAfee’s predictions – and what to do if he’s wrong. But there are many other important protagonists who are equal (if not more) bullish on Bitcoin.
Just yesterday, Anthony Pompliano from Morgan Creek Digital made a dizzying claim. That Bitcoin can become an asset of $ 5 billion by 2024. This is based on the justification that Bitcoin remains the only trillion dollar asset that can increase by as much as 50 times over a five-year period.
So yes, the fact remains that Bitcoin still has a long way to go to recover its previous levels before blasting through them. But with tailwinds strongly blowing, it can only go up from here.
Will Bitcoin continue its uptrend? Share your thoughts in the comments below!
Pictures via Shutterstock