Bull run market prediction shows that the number one cryptocurrency could reach up to $21K this year despite the 2018 bear market that crushed the prices by more than 80 percent. The recent market surge increased the optimism and it seems like the best days for bitcoin are yet to come so let’s find out more in the coming altcoin news below.
The optimism is being driven by many important milestones that happened since the start of this year. First, the bitcoin price reached its best value so far for this year, crossing the $11,000 price point over the weekend. The latest price surge helped the major cryptocurrency to achieve a 15-month price high since the coin hasn’t traded over $11,000 since last spring. Also, the cryptocurrency gained more than 160 percent in Q2 this year which marks the best quarter for digital gold since bitcoin jumped up to 230 percent in Q4 back in 2017.
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This was when the coin hit the all-time-high of $20,000. With a major market cap of over $195 billion, Bitcoin has received some steam after having entered this year’s second quarter over the $4,000 mark.
The bull run market prediction comes even after 2013’s bitcoin stretch when the cryptocurrency spiked by more than 600 percent. The difference between that year and today is that the current bitcoin run-up comes after many pundits stated that the cryptocurrency would never see a five-digit price point ever again. Now, Bitcoin is only down by 45 percent since the previous $20,000 and over the weekend surge means that the asset is presenting with up to 83 percent on the year and 1,580 percent over the last five years.
The interest following around Bitcoin increase since Google searches for the cryptocurrency is on the rise. This comes as no surprise since the major social media giant Facebook announced their Libra crypto project last week which brought up to serious attention to BTC.
As noted in the latest cryptocurrency news, the cryptoanalyst Trace Mayer thinks that it is possible for Bitcoin’s price to eclipse the previous all-time high before 2019 ends and to reach up to $21K. Of course, the future is unpredictable so there is no certainty but analysts such as Mayer used the data to make their best bets.
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