Bitcoin Nearing $10,000: Is it Too Late to Buy?
Is the phoenix rising again? The “phoenix” I’m referring to is none other than the world’s most popular digital currency. In a matter of 29 days and as of June 1, the price of Bitcoin (BTC) has increased by 48.5% to $8,564.02. Also, Bitcoin’s closing price to end May was its best monthly close since 2017.
Naturally, the “rabid” followers of BTC are expressing confidence. The crypto is regenerating and beginning to rise from the cloud of darkness. They see a large price movement, pointing to the direction of $10,000. For investors looking for bigger gains, is it too late to buy Bitcoin?
Nagging question Many in the cryptocurrency market were hoping that BTC would zoom past $9,000 during the last week of May. The price already surged slightly above $8,800 to start the week. However, the crypto encountered slight instability. The price dropped to $8,320 on Thursday before recovering to end the week higher.
Ever since the disaster in late 2018, when the price tanked to a low of $3,150, Bitcoin’s stability remains in question. The recent increase is not enough to say there is a rebirth. But followers will argue the strength is returning. What was destroyed will be restored. Ver matéria