Record high in sight as Bitcoin clears $19,000

Author: Justin Low | Category: Cryptocurrency

Bitcoin looks to hold above $19,000 now after a bit of a push and pull earlier

The price took out $19,000 earlier in European trading but there was a bit of a push and pull around the figure level since, though buyers are now looking poised as we see price move above $19,200 with the record high in sight.

This is the first time in three years that Bitcoin is trading above $19,000 and it is tough to fight the rapid ascend in the price given the momentum.

I stand by my conviction from last week that the move here will breach the late 2017 record high and soar past $20,000 by quite a bit. That will sucker in more FOMO buying, before we will see a deep correction take place once the euphoria starts to get a little overboard.

I don't know about you guys, but I've only got a couple of close contacts that are still eyeing the latest run in Bitcoin closely. But when it starts to go more mainstream (again) for a few weeks/months, I reckon that's when you know it is getting a bit "icky".

That said, the whales hold all the cards here and that's always the key risk to remember.
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