Love was in the air for some this week, as Friday marked St. Valentine’s Day, beloved of lovers everywhere. The less romantically inclined may have been watching the bitcoin price charts from behind the sofa and biting their nails.
Bitcoin Price: Will it, won’t it?
It’s been a bit of a will it, won’t it a week for bitcoin price. Stay above $10k, that is. After breaking into five figures again last Sunday, there was a lot of optimism that this time it could be for good. Would prices surge like last time bitcoin broke $10k?
Not immediately, at any rate. A dip on Monday that lasted into Tuesday took prices back below that psychologically significant level, at one point pushing bitcoin down to $9750. But while prices were down, Google searches for ‘Bitcoin’ were up, over 33% up in the last week.
Fundstrat’s Thomas Lee even popped up again, to claim that Bitcoin could almost triple this year, and beat the Dow Jones index to $40k.
Then in the space of an hour on late Tuesday afternoon, the price jumped over $300, hitting $10,150. We felt that optimism was growing and that things would be different this time. The momentum carried and we saw solid gains over the next few days before BTC peaked around $10.4k.
Some thought that bitcoin price could top out at $11.5k but unfortunately, that didn’t happen. Instead, it dropped into a range of around $10.2k, where it stayed until Saturday. Still, there were those predicting short-term targets of $12k, but again it wasn’t to be.