Bitcoin Skyrockets In Minutes, Hits New 2019 High of $8,600. Is $9,000 in sight?

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Bitcoin Likely to Soar Higher Despite Short Dip Below $5,500
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After many days of hovering below $8,000, Bitcoin has finally made a move above $8,200, a significant resistance that it just broke. Not just that, it has reached a new 2019 high of $8,600. The leading cryptocurrency attained this price just a few minutes ago following a great and sudden move.

Bitcoin

Analysts are looking at $9,000 as the next destination for Bitcoin if the growth continues the way it started. The cryptocurrency has been down below $7,000 for over a week now, hitting $8,000 randomly several times. This actually raised fears of the asset dropping below a critical $7,600, which would have been the start of a much lower fall, analysts said.

One analyst recently said Bitcoin will see another big move if it succeeds in reaching a price of $7,950. Bitcoin got to this price and rose to $8,000 a number of times but was able to experience the big move only today. Bitcoin has currently gained 120% so far in 2019 and it keeps pressing on.

Bitcoin was on a steep and fast rise prior to the dip below $7,000. Traders and analysts at the time expressed doubt that the bull run was going to be that fast even though Bitcoin was certainly going to embark on a bull run. Seasoned trader Peter Brandt said the asset would have to slow down and rise slower in order to sustain the bull run.

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The price later crashed as predicted but has held its position above $7,500 all the way before the new, sudden move. According to a senior analyst at eToro Mati Greenspan, Bitcoin breaking through the former yearly high means the coin is heading straight to $20,000 without any resistance.

If his words turn out to be true, the 2017 all-time high may become a walk in the park for Bitcoin in just a few days and a higher all-time high is still possible after that. There are several opinions on where Bitcoin will stop next, but one thing everyone seems to agree with is the fact that a bull market is officially here for Bitcoin.