Bitcoin jumps above US$15,000 to hit the highest value of the year
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This morning, I woke up with a notification on my phone regarding Bitcoin's highest value of the year so far, which was US$15,561.39. After reaching that peak, it looked like everything was slowly settling down with a minor drop. However, as I write this, the value of the world's most popular cryptocurrency is US$15,617.60 and the highest value of the year — reached a few hours ago, apparently after I got the aforementioned notification — is US$15,921.03.
I cannot tell if this abrupt climb has anything to do with the US presidential election or the resurgence of the COVID-19 pandemic in Europe, but those who purchased Bitcoin in mid-March, when this currency's price was below the US$5,000 mark, should definitely open a bottle to celebrate.
The last time Bitcoin's price jumped by over US$1,500 in a day was during the epic bull run in 2017. Right now, we are talking about the highest price of this cryptocurrency since January 8, 2018. With an index that has also jumped from 72 to 90, Bitcoin is now apparently overbought but some experts disagree.
For how long will this situation continue? Is it possible to see Bitcoin reaching US$25,000 before the end of the year? Or maybe US$20,000 by the end of this month? These are a few interesting questions that will get their answers as time goes by, but feel free to hit the comments section and share your thoughts with us.