[UPDATE] Bitcoin Surges To Over $7,000--Here's Why

Meanwhile, bullish analysts have continued to voice their support for bitcoin ahead of one of the biggest events in the cryptocurrency calendar starting next week—

Blockchain Week NYC and CoinDesk’s Consensus 2019 event, beginning Monday, May 13, and running all week at the New York Hilton Midtown.This year headline speakers include FedEx’s Fred Smith, Fidelity’s Abigail Johnson, Twitter and Square’s Jack Dorsey, chairman of the U.S. Securities Exchange Commission, Jay Clayton, and U.S. presidential hopeful, Andrew Yang.

Yesterday, analysts from investment bank Canaccord Genuity said they expect bitcoin to rally hard over the next 24 months, potentially returning to its late 2017 highs due to next year's halving event, where the number of bitcoins rewarded to miners will be cut by 50%. "Now four months into 2019, we note for the third time the striking similarity in bitcoin’s price action between 2011-2015 and 2015-2019," Canaccord researchers wrote in a note to clients."While this simple pattern recognition has little fundamental basis, we note that bitcoin does operate on a four-year cycle of sorts, as the halving of bitcoin’s mining reward occurs approximately every four years.

"Bitcoin has started to form the spring 2019 bottom we began mentioning last year, although a close look at the chart suggests the recovery may be slightly ahead of itself. Looking ahead, if bitcoin were to continue following the same trend, the implication is a slow climb back toward its all-time high of ~$20,000, theoretically reaching that level in March 2021."

Your editor is 2 days late with this article. $BTC is already at 8k and climbing. You should just probably pivot and talk about forecasts to keep up with relevancy.

Ummm passed.

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[UPDATE] Bitcoin Surges To Over $7,000--Here's WhyBitcoin, which has been defying gravity this week following a serious security breach and theft at the world's biggest cryptocurrency exchange, Binance, has just bounced by almost 10% over the last 24 hour trading period to almost $7,000... Need to update your 3 minute old article already... bitcoin didn’t “bounce to almost $7000”... $BTC ripped right past it to $7k. 🚀🚀🚀 Only getting started. 🚀🚀🚀 I was buying it when it was less than $10...if I only saved them! millions biggest mistake in my life
Source: Forbes - 🏆 394. / 53 Read more »

Bitcoin Surges Above $8,000; Investors Say ‘Crypto Winter’ Is OverThe price of bitcoin has rocketed in recent days, even as major financial markets have faltered due to escalating trade tensions. 🤔 Hello, yet another bubble. IMO Bitcoin is a fraud and I woudnt be surprised if the actual market was rigged, it doesnt take much volume or criminal money to keep it buoyant and any large sell will drop it like a rock:
Source: WSJ - 🏆 98. / 63 Read more »