Bitcoin went absolutely parabolic over the weekend! After topping out at $7,500, traders are now wondering what is next.
Bitcoin Price: Market Overview
Last week brought an onslaught of bearish news that typically negatively impacts Bitcoin price 00. But surprisingly, it shrugged at the news and has gone bananas as its dominance rate rose to highs not seen since 2017.
At the moment, nearly every analyst is screaming “bull market” and making calls for what they believe the new all-time high will be.
Friday and Saturday’s amazing run firmly brought Bitcoin above $6,000 to the previous resistance zone where $6,800 and $7,300 held before the November 2018 40%+ correction and the icing on the cake was a quick blow off to $7,500. A number of crypto analysts have also pointed out that while Bitcoin has gone parabolic, the parabola has broken as the digital asset has not set a higher high after reaching $7,581?
It should also be noted that Bitcoin’s lightning quick ascension took place with few retracements and a pullback….