Bitcoin All-Time High: Bitcoin has suddenly blasted through $18k which is all-time highs since December 2017.
The world’s most popular and top cryptocurrency bitcoin has hit a high value of $18,062, which happens for the first time since Dec 16, 2007.
During the past 24 hours, the bitcoin price has ranged between $16,560 to $18,062.
Price of Bitcoin All-Time High
After climbing steadily since September, bitcoin has suddenly leaped higher and shot towards its all-time highs of around $20K on a single bitcoin which is set in late 2017.
The bitcoin price has climbed up to 10% over the last three-four days, hit a value of $18,000 even as the recent equity market rally stalls.
According to the Coindesk 20 data, bitcoin is now up to 146% on a year-to-date basis and so far has gained nearly 70% this quarter.
However, many have declared that the bitcoin price correction might be just around the corner. One bitcoin price analytics company has predicted that the value of bitcoin could soon just fall back to just $14,000.
As BTC sliced through the $18,000 level, there was a lot of talk about whether the price will remain below the 2017 high or break through the resistance.
The Head of global sales trading at EQUOS, Matt Blom said:
If we drive up to $19,050 this week, I would expect pull back to the $17,000 level. There is a lot of new money in bitcoin. They have never experienced a bitcoin retracement. In the past, bitcoin has retraced sharp up moves, but this time, there is one missing ingredient! The lack of auto-liquidation of leveraged longs.
On the other hand, Ian Balina, the chief executive of Washington-based Token Metrics said:
Bitcoin is performing better than expected. While still bullish long-term due to macro-economic factors and large corporations getting into crypto, we expect bitcoin could correct back to around $14,000 by the first week of December.
After starting at $7000 this year, the value of bitcoin has increased more than double so far this year. The trader at Hong Kong-based bitcoin and crypto market-maker GSR, Micah Erstling said:
Belief is going that we could reach $20,000 before the end of the year. More importantly, investors believe that this rally is sustainable. Many signs point towards that.
The last time when bitcoin was at this highest level was in late December 2017.