The last time high seen in Bitcoin markets were in late 2014. Bitcoin was still in infant stages where corporations could easily manipulate markets and control the direction of future price movements too. Many attributed artificial price manipulation from the then biggest exchange, MtGox as just as suddenly the price peaked; it vanished pushing prices into a depth which lasted for more than a year. However currently the all time high of $1186 is much more authentic due to the bullish market sentiment and international events which have sparked the current rush.
The ETF and Chinese dominance slipping have provided the catalyst for the latest Bull Run which has seen prices move up over the past 6 months. The ETF has been considered pivotal the recent rise as if it is successful it is estimated that more than $300 million in fresh capital will be pumped into current markets.
To conclude the current all time high being seen may have some momentum left in it as currently movements is fairly rapid among a number of exchanges including Bittrex and Bitfinex. The top is currently predicted to be hit around the values of $1200 – $1215 and may be reached within a matter of hours. Currently many anticipate market correction to bring back down prices to pre surge levels as once the ETF decision has been formally announced, will we see a much longer and stable rise. The current high is much more natural than the artificially inflated one of 2014 as volumes currently are $158 million compared to the previous high which only saw trading volumes top out at $35 million, extremely small for sustaining then $9 billion market cap.
Disclaimer: the article does not represent the views of BTC.ng and in no way can the site be held for any financial loss stemming from the article. Losses can exceed deposits so please trade responsibly.