Bitcoin price soars to highest level since April bubble
The price of bitcoin is currently at its highest level since 10th of April, when the value experienced a massive surge amidst the financial crisis in Cyprus. In fact, there have only been two days in the history of the digital currency that the price of bitcoin has been higher than the $171 it is now, at the time of writing. But what is causing the current spike? Well, it seems there are a few possibilities. The demise of Silk Road. The closure of black marketplace Silk Road by the FBI on 2nd October was seen as a real make-or-break moment for bitcoin - if it could weather this storm, it....
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Bitcoin reclaimed the $19,000 level, but charts suggest BTC and altcoins may consolidate for a few days before starting the next trending move. Bitcoin price hit a new all-time high above $19,892 on Dec. 1. This is a significant event because it proves that the rally in 2017 was ahead of fundamentals but not a bubble. Generally, when a bubble bursts, it takes several years for the price to cross the high made during the bubble. For example, the Japanese stock market bubble came after a high was made way back in 1989, and that level has not been conquered yet. Similarly, silver’s high close....
Results from the past do not offer guarantees for the future. It's the legal disclaimer that comes with every new financial brokerage account and trading promotion. And for good reason. Because results from the past, do not offer a guarantee for the future. Then again, history tends to repeat itself. Let's take a look at the two most recent Bitcoin bubbles: Bitcoin to USD - Jan 2013 to Oct 2013. Bitcoin to USD - Aug 2013 to Jul 2014. If you superimpose them over each other, a clear pattern emerges: Bitcoin to USD chart - April 2013 and December 2013 bubbles superimposed. The similarity....