Bitcoin Nears All-Time High As $5,000 Target ‘Back in Play’
Bitcoin has appreciated to almost $4,400 as recent declines reverse and commentators become more bullish on $5,000.
Bitcoin (BTC) has once again exited above $4,000 in a move Tone Vays says puts $5,000 levels “back in play.”
Having dipped as low as $3,674, Bitcoin has rebounded in recent days to circle all-time highs from earlier this month.
Cross-exchange data from Coinmarketcap shows BTC trading around $4,360, having peaked at $4,390 earlier Friday.
Compiling the latest of his price chart analyses, Vays concluded current data “screams buy,” adding that $5,000 for BTC was once again a potential scenario.
In contrast to comments by Chain architect Oleg Andreev this week, Vays added the effects of the one extant and one potential Bitcoin fork were not hampering BTC’s price.
His joins the similarly bullish prognoses from Max Keiser, who has revised his “interim” price forecast from $5,000 to $10,000 per Bitcoin.
Meanwhile, Bitcoin Cash (BCH) extends its near week-long decline from highs of almost $900, continuing to markedly exceed BTC’s volatility.
Across the top 15 cryptocurrencies, Monero continues to gain versus USD, riding on the back of hugely increased trading interest resulting from South Korean exchange Bithumb’s move to add it to its books.