About 20 seconds ago I just watched Bitcoin pass $69,000 on Coinbase.
Goodbye 2021 ATH, and welcome to the 2024/25 bull run!
Update: about a minute later its down under $68k haha
Many are looking at the previous ATH as the resistance hence, we are seeing Bitcoin going down to $66,000 again as it goes up near to it.
Well, the good thing is that we are at $68,000 again.
On Coingecko and Coinmarketcap, it seems like it hasn't been reached yet. The good thing is that many are optimistic about Bitcoin that's why many are buying it right now trying to ride the train. Like I said in the past, I will only think that we entered the bull market if the price of Bitcoin surpassed the previous ATH of ~$69,000 and stayed above that price for weeks. Until that doesn't happen, I don't consider we are on it yet. Nevertheless, it's a good sign that we are nearing breaking the previous ATH, and TBH, I didn't expect it to happen because, in the past, it took months after the Bitcoin halved before the previous ATH was surpassed. Now we are a few weeks away from the halving event and we are seeing Bitcoin trying to surpass it's previous ATH already. I'll stick to my prediction that Bitcoin will reach as high as $150,000 next year.
P.S. Oh not again. The price of Bitcoin went down to $65,000 again as it tried to go to $69,000.
Yeah that's a good point. Even though it broke the ATH today I think plenty of people wouldn't consider it to be in a new bull run until it surges past the ATH. This morning it only broke the ATH by like $150 and then dumped like $6000 haha. But then again others will say the bull run started back when the price started surging a week ago off $52k, or a few months ago when it broke out of the $25k-$30k range, or last March when it broke out of the bottom of the bear market, or even last January when it started strongly moving up off $15k/$16k. Calling it a bull run is just a label, that we can define different ways. The main point is that Bitcoin has broken 2021's ATH amid a very bullish market and will soon be heading to prices much higher.