Bitcoin in the News : 2019-06 More++

Although the past month's chart, Bitcoin in the News : 2019-06 Price, was posted more-or-less on time, this current post is being posted much later. Blame summer vacation.

To make up for lost time, I'll re-use the technique last seen in Bitcoin in the News : 2019-04 More++, where I focused on stories from Forbes.com. For June, I counted 21 Forbes stories, many of them about the impressive rise in price for the month. Of those 21 stories, I selected 10 for this post.

• 2019-05-31: The Bitcoin Price Has Skyrocketed Over The Past Month For These 3 Reasons • '1. China and U.S. Trade War; 2. 2019 Consensus conference; 3. Brokerages Offering Bitcoin to Retail Customers in 2019'
• 2019-06-04: Bitcoin Plunged Below $8,000 -- Did This Cause The Sudden Price Drop? • 'someone dumped 25,000 bitcoin for $215 million and bought it back shortly after for $200 million'
• 2019-06-04: Bitcoin Rallied In May As Tweet Volume Hit 8-Month High
• 2019-06-06: Facebook's Radical Bitcoin-Beating Cryptocurrency Plans Revealed
• 2019-06-11: How Bitcoin Is Taxed
• 2019-06-13: IRS Agent Who Took Down 'Silk Road' Turns His Attention To Recreational Bitcoin Investors
• 2019-06-14: Bitcoin 'Supply Shock' Is Looming, Warns Venture Capitalist • 'heading for a "supply shock" thanks to next year's closely watched bitcoin halvening [halving]'
• 2019-06-17: Bitcoin Prices Have Tripled Since December -- What's Next?
• 2019-06-18: Bitcoin Is Up 145% YTD, What Does This Mean?
• 2019-06-26: Bitcoin Breaks Through $13,000 As Rally Continues

The first story dated 2019-06-04 sounds like market manipulation. The two stories dated 2019-06-17 and 2019-06-18 sound inconsistent until you realize they are measuring the price rise from a different base. The story dated 2019-06-06 mentions a 'Facebook project codenamed Libra'. For a more in-depth look, here are two stories from a stalwart of the monthly 'Price' posts:-

• 2019-06-13: Project Libra: What We Know About Facebook’s Forthcoming Cryptocurrency (cointelegraph.com)
• 2019-06-20: What Is Libra? Breaking Down Facebook’s New Digital Currency (ditto)

As for stories from other sources, there was nothing so compelling that I absolutely had to mention it.

Bitcoin in the News : 2019-06 Price

This month's price chart is more like a typical chart from 2017, like Bitcoin in the News : 2017-05 Price, than the charts in recent months, like last month's Bitcoin in the News : 2019-05 Price.

Bitcoin (BTC) Price Index

The most impressive aspect of an impressive chart is the spike at:-

2019-06-26 16:00

In Cointelegraph's Analysis category, I didn't find any discussion of the spike, but I did find two macro discussions using list structures. Here's a summary of the list bullets:-

2019-06-23: 4 Big Reasons Bitcoin’s Price Will Probably Not Stop at $20K This Time (cointelegraph.com)
- Institutions, not retail, in the driver’s seat
- Network fundamentals better than ever
- Bitcoin reward halving still 11 months away
- The bigger macroeconomic picture

2019-06-26: 6 Surprising Takeaways From Bitcoin’s 2019 Bull Run (cointelegraph.com)
1. Bitcoin Already Quadrupled From its Bear Market 'Floor'
2. $11,000 Per Bitcoin is 'Fairly Valued'
3. Bitcoin and Avocados Soar As Dollar Crashes Under 10,000 Satoshis
4. The 'Kimchi Premium' Is At $13,000 ['South Korean traders pay more for bitcoin']
5. Bitcoin's Hash Rate Is Stronger And More Secure Than Ever
6. Will Bitcoin Continue to Surprise the Market?

Cointelegraph's Price Analysis tag had a closer look at the days before and after the spike:-

2019-06-22: Price Analysis 22/06: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA (cointelegraph.com, also following links) • 'BTC/USD : The up-move of the past couple of days is reminiscent of the rally during the previous bull market. Bitcoin (BTC) has covered the distance from $10,000 to $11,000 within a day.'

2019-06-24: Price Analysis 24/06: BTC, ETH, XRP, LTC, [etc.] • 'BTC/USD : Bitcoin (BTC) has been holding near $11,000 for the past two days, which is a positive sign. This shows that the bulls expect the rally to continue, hence, they are not booking profits in a hurry.'

2019-06-26: Price Analysis 26/06: BTC, ETH, XRP, BCH, [etc.] • 'Bitcoin (BTC) has continued with its stellar run as no resistance level is being able to hold it back. It easily covered a distance from $10,000 to $13,000 within five days. [...] BTC/USD : Contrary to our assumption, bitcoin easily cleared the $12,000 and $13,000 overhead resistance levels on the same day. Such strong buying near critical resistance levels suggests huge demand.'

2019-06-28: Price Analysis 28/06: BTC, ETH, XRP, BCH, LTC, [etc.] • 'When an asset class jumps 275% within a span of six months, corrections are bound to happen. [...] Bitcoin reversed direction from $13,973.50 on June 26 and plunged to a low of $10,530.70 on June 27. That is a 24.63% fall within a day. The reason for such a sharp fall is that a vertical rally does not form any support levels en route. Hence, when the price starts falling, buyers do not step in until they spot a level that can act as a support.'

Will that spike prove to be another blip on bitcoin's upward march -or- the high point for 2019?