- Bitcoin is surging again, up by 157% since the cryptocurrency complex bull market began late last year.
- Bitcoin just sliced through major resistance at $8,000 and may be on its way to test $10K, likely after a consolidation period around the $7-8K level.
- Shorter tern, Bitcoin’s popularity appears to be back and increasing.
- Longer term, Bitcoin has the potential to play a central role in the world of blockchain technology, which should continue to grow and progress going forward.
- While volatility will persist, prices should continue to trend higher from here, and Bitcoin along with the crypto currency complex are likely entering a multi-year bull cycle.
- This idea was discussed in more depth with members of my private investing community, Albright Investment Group .
Date: May 16, 2019
Source: Seeking Alpha