Bitcoin the “coin you just can’t knock down” crossed a significant psychological barrier overnight.  Bitcoin crossing $5000 and reaching an all-time high even with the recent fears created by proposed regulations from China and Russia.

This is a significant hurdle because it demonstrates the truly decentralized nature of this currency.  Even with the significant number of naysayers, investors seem to be bullish on Bitcoin. It seems fears from investors have subsided, after the sky did not fall.  Evidenced by the increased volume in major exchange and new all time high.

With the Bitcoin market trading sideways for the last 2 weeks with momentum starting to change on the Oct 9th, it seemed the market could go either way.  However with this new all-time high the signs are pointing to a new bullish run.  How high will it go is anyone’s guess.  To throw a number for purely entertainment purposes I believe this run could see a high of $6200.

However there are three significant dates and factors to be concerned about.
Oct 16: Ethereum is going to hard fork with a scheduled upgrade.
Nov 1: Bitcoin Gold will fork and form a new sibling of Bitcoin.
Nov 18: SegWit2x will go live through a hard fork that a majority of the Bitcoin community supports.

 

SHARE