So Bitcoin just hit a new All Time High of 8000$ a couple of hours ago. The last incredible run up started after we hit the double bottom of around 5500$. That is over 40% in 4 days. It rejected to pass through the 8000$ barrier and it is now trading at around 7700$. Some think that as we are approaching the end of the year Bitcoin is moving towards 10 000$! To be honest in my personal opinion that is very possible basically based of the fact that people believe that it will happen. Of course we had that 30% pull back after reaching the last All Time High of 7900$, but in my personal opinion that was more like a short term thing than a good healthy correction that we might possible see.
You may often look at the 5 minute or 1 hour chart if you are trading cruptocurrency, but if we zoom out a little bit and look at the price action for the last year it really has been an amazing journey. It has gone up faster and faster and faster to the point where you ask yourself for how long it can keep going like that.
