Had a nice weekend: Bitcoin reaches the new maximum, analysts predict the trend will last

During the past weekend, Bitcoin’s value has risen sharply, as shown both on the CoinDesk Bitcoin Price Index (BPI) and on Bitcoinity.org trading stats website.

The following can be seen from the stats: after 1:00 UTC (or 4:00 Moscow time) the price skyrocketed to $2,900, but this was not even its final record during that day. Later, around 3:12 UTC (or 7:12 Moscow time) the price reached $3,000 and went even past $3,200. Not even those who have been with Bitcoin from the very beginning can remember anything close to these values.

Graphics show a considerable price spike – possibly, the market participants think Bitcoin deserves more appreciation after its survival of hard fork. However, this might be only one of the factors.

Coinspot.io reports that some market analysis specialists state the price of Bitcoin can become even higher – among them is Sheba Jafari, the technical analyst from Goldman Sachs whose analysis dates to 13 June 2017. There he assumed that Bitcoin is currently entering the V-shaped wave – the price is going to drop lower than $2,000 and then return to the “bullish” trend. This has proven to be true: the price, after reaching $3,000 in June, then dropped down to $1,836, now we see the third stage – it reached another maximum. Sheba Jafari reacts to this event by saying that now Bitcoin is going to fluctuate a little bit more before this market price growth lap continues.