Bitcoin price fell $400 in minutes April 3 but broadly held onto support above $5000 as the enthusiasm from this week’s bull run continues.
$5000: Bitcoin’s New Home?
Data from cryptocurrency exchange Bitstamp, which tends to deliver slightly more conservative price information than many mainstream platforms, showed bitcoin price hitting a high of $5332 before retracing Thursday.
The gains, which began earlier this week when bitcoin suddenly jumped from $4170 to $5000, mean Thursday saw the highest bitcoin price since November 18 last year.
That date was just days after a contentious hard fork on Bitcoin Cash (BCH) caused significant market volatility, leading BTC into a downward spiral which saw lows of just $3130 weeks later.
With its latest surge, bitcoin has definitively recovered from the event, reattaining its pre-fork levels for the first time.
At press time, BTC/USD was hovering around $5010 on Bitstamp, having bounced through $5000 once again after briefly falling to $4880.
Squeeze Or Moonshot?