The positive trend for Bitcoin continues today. We have seen Bitcoin lead a big market surge over the past couple of weeks, with two notable peaks around the 13th of April and again around the 21st of April.
Each instance has been met with strong support from the markets on the whole, with the 13th of April jump being part of a much bigger overall market surge.
This leap in Bitcoin value saw the remaining alt-coins follow on, some of which have continued to make huge gains over the past two weeks, Bitcoin is no exception to this. As a result of the surge, experts are predicting a bigger bull run to take place soon, Bitcoin is still showing signs that this could happen.
As it stands, the markets are facing what seems to be a slight correction period at the moment, with most currencies on a steady decline. I suppose there is a chance that this decline could be as a result of something more serious, for now however it just looks to be part of cryptocurrencies organic nature to recover from surges.
At the time of writing, Bitcoin is valued at $9,301.58 and is up 0.38%. Granted, this rise is tiny, but with rivals Ripple and Ethereum down 6% and 7% respectively, Bitcoin is at a slight advantage right now.
With the $10,000.00 target now in sight, Bitcoin just needs a little boost, a boost which is likely to come from bull run 2.0, at least, that’s what the experts believe.
Because the price of Bitcoin is so high (compared to other coins) small leaps up can mean huge gains in value, therefore a 0.38% rise can still be significant over time. If we see another bull run take over soon, we may very well see climbs of 10% – 20%, in this instance, things will get very interesting.
What happens when Bitcoin reaches $10,000?
First of all, the rest of the markets will follow, we may see Ethereum hit $1,000.00 and Ripple hit $1.50. Moreover, we may see a lot of Bitcoin investment cease, as investors start to sell off, this would in theory include the late investors who unfortunately bought into Bitcoin when it’s value peaked around the end of 2017. Likewise, $10,000.00 could be the sign that other investors need to re-affirm that their investment will move up to $20,000 soon enough.
In all honesty, the state of Bitcoin is down to various perspectives. Some will relish $10,000.00, others will see it as a chance to get out and never come back. Regardless of all of this, the planets are starting to align, should another bull run take hold soon, we should see the magic $10,000.00 hit home, sooner, rather than later.