BTC has hit a new ATH and is, once more, in price discovery mode.
1 min read
As of the moment of writing, BTC has surpassed its previous ATH of 67.3K USD. It is now in price discovery mode (again).
During last weeks it has held well the support around 60k, which was the longest time since its conception it persevered above this price mark. With models such as PlanB’s S2F and other speculations that its price might hit 200k+ USD during this run, it is becoming truer.
Yet according to S2F, we’re about to see 98k+ USD by the end of the month. The prediction for last month was the price would close above 63k USD, but it failed to do so for a few percent, as the closing value was a little bit above 61k USD.
Taproot update, which will soon be rolled on and will be the first major upgrade since SegWit, will open the path for smart contracts within BTC’s blockchain. It won’t give BTC the capacity of ETH by any means, but it will, as said, open a door. Let’s hope the path is smooth.
Once BTC hits 100k USD, which is a very symbolic mark, it is likely that mainstream media will jump in and retail investors might start a similar frenzy than that seen in 2017.
Long story short: gonna be a long ride. Hope you’ve all gotten your premium seats!
submitted by /u/reddito321
[link] [comments]
