Bitcoin has been shooting to the moon in the past couple of hours and days. If this trend continues, could Bitcoin take 45 days to hit its all-time high of $20,000? Well looking back at history, this is possible.
On the 2nd of November 2017, Bitcoin touched $6,900 for the first time but it only took Bitcoin less than 45 days for it to hit its all-time high of $20,000.
Bitcoin currently trades at $6,800 at an 8% increase in the past 24 hours. The coin also now has a market cap of over $120 B and is trading at it’s highest level since September 2018.
Bitcoin has been proving bullish the past few days, though the coin has been met with some nasty news which should normally see it’s price take a downturn.
Within the week, Bitcoin saw one of it’s most secure exchanges, Binance loss $40 million to hackers while some within the US government called for the government to outrightly ban cryptocurrencies to protect the dominance of the Dollar.
Nevertheless, Bitcoin has been breaking through all these bad news and given the bullish nature of the coin, one could reflect back to November 2017 which saw the coin make huge gains in just a matter of hours and days.
The current bullish price can be attributed to some major breakthrough events the industry is anticipating in the coming weeks following interests from some big names planning to get into the space.
As of writing time, Bitcoin is undergoing a price correction, which is normal. If Bitcoin can gain good support at $6,600, we could see another bullish run.
Is history about to repeat it’s self? Could BTC take another 45 days to hit $20,000 again?
This is left to be seen as the coin continues to make gains.
You could also be interested in;
- 4 reasons why bitcoin’s price keeps rising given all the negative news
- Canaccord analysts: the price of Bitcoin could return to $20,000 in the next 24 months