Bitcoin briefly sets new yearly high of $9,400, next stop $10,000?

17 Jun, 2019
by Richard Allen
Breaking News
Bitcoin briefly sets new yearly high of $9,400, next stop $10,000?

With Bitcoin just having broken through $9,000 yesterday, the coin has continued its stellar performance even going so far as to very briefly set a new yearly high of just over $9,400.

While Bitcoin only breached $9,400 for a split second before dipping back down to the high $9,200 range, the move stands as a testament to the bulls’ determination. Seeing gains of around 3.38% according to data from Tradingview, with a current price of $9,277.94 at the time of writing.

BTC/USD chart provided by Tradingview

With Bitcoin only touching $9,400 for such a short period of time, the move has gone largely unnoticed by the community. Crypto Twitter is still buzzing with bullish predictions, however: 

While traders and analysts have put forward numerous theories regarding Bitcoin’s phenomenal price performance, it’s likely a result of a combination of several factors including Binance’s announcement that it would be closing its platform to US customers, the Bitcoin halving event scheduled for next year, and Bakkt recently announcing an official launch date.

Trader Crypto Michaël has put forward one potential situation that could see Bitcoin rally towards $14,000. He states that BTC may top out at $9,600 before finding support between $6,400 and $6,600. A rally to $14,000 may follow.  

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Read more about: Bitcoin (BTC)

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