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?
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