Bitcoin Shocks Naysayers, Continues Parabolic Push Past $12,000

Bitcoin Hits $12,000 Surges Past $13,000 in 24 hours

Update: BTC now at $13,000 surges onward to $13,400, up by 17% on the day

Reminiscing its rapid growth during the 2017 bull run, Bitcoin has continued its upward movement to hit $12,000 for the first time in over a year.

In the early hours of June 26 2019, Bitcoin broke the $12,000 resistance level to now trade at $12,882 at the time of this publication; up by 13% over the last 24 hours. Following this surge, Bitcoin (BTC) has also increased by 200% this year, setting pace over other investment instruments.

Bitcoin at $12,000 New Records

  • Bitcoin dominance is currently over 61.7%, its highest in over 2 years
  • Bitcoin’s market cap now stands at $229 billion of a total cryptocurrency market cap of $371 billion
  • Bitcoin started the year around the $3,000-$4,000 region, at its current price of $12,000 the number one cryptocurrency is up by 200% this year and 50% from 2018 bear market

As reported in our previous price analysis, predictions in the short, medium and long term have been bullish from the past week. Professional trader Peter Brandt had said BTC was on its fourth parabolic phase; as he described the market as ‘one like no other’.

Other predictions pitch price levels $13,500 then a correction, $17,000, $21,000 – $40,000 in the short, medium and long term respectively; if Bitcoin maintains its current parabolic trajectory.

What are your thoughts on this? Will Bitcoin surpass $20,000 ATH by year end? When will altcoins follow?

NOTE: This Publication does not serve or replace investment advice. Always Do your Own Research (DYOR).

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Written By

CryptoEnthusiast, CryptoEducator, Angel Investor, Writing Pro and Techie