Towards the end of June Bitcoin was at the level of 12,410.00 US dollars, against the backdrop of a strong bull market & growing trading volumes.
However, since Bitcoin crosses the resistance barrier of $11,075, it is highly likely to continue its upward tendency until the end of the year.
Actions are taken by central banks which results in reducing the value of currencies backed by the government. Hence, Gold & Bitcoin are used as substitute currencies which should rally!
Bitcoin’s present price level is similar to its level seen at this stage during 2017. After that, we remember what happened when the cryptocurrency nearly touched 20$k at the end of 2017.
The enthusiasm about the Libra, Facebook’s digital coin, as well as the possibility that India may ban cryptocurrencies, might be the significant incentives to the revival of Bitcoin.
HAMM – PUT IN GRAPH
The most interesting question is, where will Bitcoin end? Will it pass the 20k hurdle which was imposed on the crypto at 2017’s end?
It is actually possible that Bitcoin may even exceed the 20k barrier!