Within the past 24 hours, the price of Bitcoin has surged from $5,600 to $6,054, by over $400 in a single day. Cryptocoinsnews previously reported that the major correction which the cryptocurrency market had endured on October 18 would place Bitcoin at a more favorable position to initiate a new rally. The recent correction of Ethereum, Ripple, Bitcoin, and other cryptocurrencies in the market would allow the global cryptocurrency market to stabilize and restructure, building a better platform to rebuild momentum and initiate strong rallies, Cryptocoinsnews reported.
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https://www.cryptocoinsnews.com/bitcoin-price-hits-6054-factors-behind-new-time-high/I have been tracking Bitcoin for the past two days and got excited for the coin when there was a big surge yesterday. It officially clobbered the $6,000 mark though there is a little bit of a retreat right now. The thing is that there is indeed a big momentum to really go beyond $6,000. I can still remember last week when it entered into the $5,000 mark and I thought that it would now be easier for Bitcoin to win over the $6,000 as it has already the inertia to do so.
Are we expecting that before the end of October, Bitcoin can already be in the vicinity of $7,000? With Bitcoin, nothing is impossible as the market right now is getting to be excited at the prospect of going beyond the scheduled hard fork. There would always be some corrections, of course, just like in the past but the psychological barrier has been lifted.