Bitcoin price continued climbing through $5350 May 2 as the second month of the cryptocurrency’s bull market begins.
Bitcoin Bull Market Month 2 Begins
Data from cryptocurrency exchange Bitstamp, which traditionally delivers Bitcoin price indices on the lower end of the scale, sees BTC/USD at $5365 Thursday, slightly down from an almost weekly high of $5376.
The fresh upspurt, which began as the new month dawned, echoes action from April 1, when Bitcoin abruptly halted its bear market trend to gain over $1000 in days.
That new support, which took BTC/USD to a high of $5621 later in the month, has broadly held, with $5000 proving to be a new floor for Bitcoin price.
Now, Bitcoinist analyst FilbFilb notes, the pattern of behavior on Bitcoin markets is beginning to mirror similar moves from 2017 – just before BTC/USD 00 hit its all-time historic highs around $20,000.
“There is some similarity between 2017 and 2019 in the way in which we bottomed from ($5000 to $3000 in) 2017 and broke back to ($5000),” he summarized in…