With the number of ATHs Bitcoin has recently had, you might be mistaken for wondering where it will go next? Bitcoin has ,within the last hour since writing this, achieved another ATH today passing $38,000. The next level it looks to be eyeing the $40k which is very easily within reach based on current performance. Who'd have thought that less than 12 months ago people were selling in droves with the fear it would go to zero. This never happened and Bitcoin hit the 2019 low of $3,867 at around 02:15 UTC on March 13, 2020 - bizarrely almost 12 months after hitting the previous years level on March 25, 2019 - and started the bounce-back.
It's not all been plain sailing and even back in the summer, there were still a large number of shorts of Bitcoin between 9 and 10k on the basis that "It's likely to have a sharp correction to the downside". This never happened and then here we are with the king of crypto valued at almost a 10x of the March low.
So, from here, with institutional investors flocking to fill their bags with Bitcoin and to a lesser extent Ethereum, where will the market go next? Interesting times and with the talk of a different kind of bullrun in 2021 now large corporates are seeing the crypto as a store of value, we could be in for a rollercoaster ride.
