Bitcoin recently dived to $3,824 and then picked back up to a high of $4,480. At the time of this posting, the price is currently at around $4,294. Bitcoin has been fairly volatile lately due to the recent all time highs and the market is at a crossroad regarding its next move.
We are now seeing the biggest increase in market capitalization yet. With one Bitcoin pricing in at over $4,000 in the past few days and the current market capital hovering at around $68 billion. Looking back to August 15th of 2013, Just four years ago, roughly four years after the inception of Bitcoin, the market capital was at ~$1.3 Billion and the price of one Bitcoin was at a measly $111.70.
Many respectable people in the Bitcoin industry or even outside of the industry have speculated recently that Bitcoin may go to $500,000 USD. Another had speculated $7,500 by this years end, which is something more realistic in my opinion. I do personally speculate that Bitcoin can reach 5 digit pricing in the near future.
Key Points:
- Bitcoin price mania continues
- Rarity of Bitcoin pushing the price up
- RSI has been over 70, still overbought
Bitcoin pricing sponsored by Denarius [DNR], More information at https://denarius.io – This is not investment / trade advice. Always do your own independent research.