Bitcoin Price Bounces Back to Highest Level Since Coronavirus Drop
The start of 2020 hasn’t been overly promising for Bitcoin or other cryptocurrencies. However, it would appear that things are not all that bad, given the current circumstances.
The Bitcoin price has seen ample turmoil throughout the first few months of 2020.
Bitcoin Price Momentum Seems Promising
Despite ample volatility, it would appear that the overall BTC value is still in a good place.
More specifically, the highest level since the coronavirus crash in March has been achieved.
Overcoming the drop from over $10,000 to roughly $4,350 has been very challenging.
Despite the odds, the Bitcoin price has bounced back during the coronavirus crisis.
The big question now is whether there is sufficient momentum to keep the price at this level or push it even higher.
For now, a break above $8,000 remains rather unlikely.
This momentum also confirms that the expected Bitcoin price bull run due to the coronavirus crisis has failed to materialize so far.
Not entirely surprising either, as that was never a guarantee by any means.
As the Bitcoin reward halving comes closer, it may get pretty interesting to keep an eye on BTC moving forward.
Many people still expect the Bitcoin price to move to a new all-time high in the next few months, which may be overly ambitious.
Image(s): Shutterstock.com
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JP Buntinx, Khareem Sudlow