Bitcoin Bulls Unleashed as Crypto Begins Trading on Good News
The bitcoin price is nearing $8,300 on CoinMarketCap with no signs of slowing down and the excitement is palpable. | Source: Shutterstock
By CCN: Another day, another new high for the bitcoin price. Bitcoin is currently trading at nearly $8,300, which according to CoinMarketCap data is a new 2019 high for the biggest cryptocurrency. On Coinbase, the BTC price already attained $8,300 though it has pulled back slightly. While it’s not the first time that the bitcoin price has surpassed this level historically, the market has stronger fundamentals fueling the gains this time around.
The excitement in the crypto community is palpable. Gemini Co-Founder Tyler Winklevoss noted that “breaking 8k this time feels a lot different than the last time.”
Bitcoin breaking 8k this time feels lot different than the last time. So much progress has been made since then and it’s only the bottom of the first inning! 🚀👍
— Tyler Winklevoss (@tylerwinklevoss) May 16, 2019
Trader and analyst Luke Martin noted that bitcoin reaching new highs “never gets old.”
$BTC making new 2019 highs. It could happen every day for the rest of the year and it would never get old.
— Luke Martin (@VentureCoinist) May 16, 2019
Finally! Bitcoin Price Is Trading on Good News
One of the frustrating themes of 2018 was that the BTC price ignored signs that the industry was becoming stronger as developers kept “buidling.” 2019 is a completely different story. Now that bitcoin is barreling toward $10,000, Fundstrat’s Tom Lee suggested that it is more likely to capture the attention of traditional investors outside of the crypto space.