Bitcoin rose to $ 18,350, What is Next For BTC
Bitcoin rose to $ 18,350 last night. The price has not reached this level since December 2017. It is becoming more and more realistic to catch up with the all-time high of USD 20,000 this year.
Get new records
It didn’t seem like it a few months ago, but Bitcoin could just hit new record highs this year. Although this price rise has been predicted by many analysts, the price is rising much faster than these analysts could ever have imagined.
This week’s rising trend allowed Bitcoin to defy the sellers in the market. As a result, the cryptocurrency first exceeded the $ 16,000 level, yesterday the price shot through the $ 17,000 with the provisional high last night of $ 18,350.
From $ 16,000 to $ 18,000
Yesterday afternoon at 1:00 PM, Bitcoin broke through an earlier resistance to reach $ 17,000. Subsequently, the currency turned out to be unstoppable and the exchange rate exceeded $ 17,500 within a few hours. At the time of writing, the bitcoin price is shaving at the bottom of $ 17600 to 18000, a level that was broken last night.
Bitcoin has been on the rise for seven consecutive weeks and with its unstoppable momentum it is difficult to predict where the end station will be.
Waiting for media and consumers
We now have to wait for the mainstream media so that the FOMO among consumers also returns. The rise in the Bitcoin price is different from 2017. Three years ago, the rise was caused by consumers and they now seem to be waiting on the sidelines.
Below the search volume on Google. The red line is Bitcoin and the blue line is search volume.
The current index level of the keyword Bitcoin is 10. At the end of 2017 it was 100. So there is now 10 times less searches for the word Bitcoin than during the epic run to $ 20,000 three years ago.
It is expected that if Bitcoin breaks through the $ 20,000 mark, and thus reaches a new all-time high, the media will be full of it. This in turn ensures that consumer interest is revived.
The current increase seems to be mainly due to large investors. Billionaires and institutional investors who have made their mark on Wall Street.