Bitcoin Price’s Meteoric 2019 Isn’t Even a Mainstream Trend Yet

The bitcoin price carved out a new 2019 high on Sunday, piercing above $11,200. The parabolic rally marks a 250 percent recovery from the lows of October 2018. But this price rally is missing one thing: retail investors.  Judging by Google search trends for the phrase “buy bitcoin,” the mainstream is absent from the latest price rise. It’s a sharp contrast to bitcoin’s parabolic bubble in 2017, which was triggered by an influx of the general public. Instead, bitcoin’s move above $10,000 is driven by institutions and existing players moving money back into bitcoin. If this analysis is correct, there’s

The post Bitcoin Price’s Meteoric 2019 Isn’t Even a Mainstream Trend Yet appeared first on CCN Markets

Source: https://www.ccn.com/crypto/bitcoin-prices-meteoric-2019-no-mainstream-trend/2019/06/24/

Stay up to date

on all important crypto news!

The most important news, once a week. No spam.