Bitcoin Price Drops From $18000 To $17230 In An Hour

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The past couple of hours have been wild for Bitcoin. The cryptocurrency went as high as $18,500 before retracing to $17,230 – all in less than an hour.

SpaceX’s Crew-1 spaceship flew 4 astronauts to space yesterday. But it seems the shuttle also dragged the bitcoin and cryptocurrency market along with it. As in what happens to be a revisit of 2017, BTC smashed past the $18,000 price mark pushing the total digital asset market cap north of $500 billion.

The excitement was short-lived, however, as the cryptocurrency took a u-turn and decreased by more than $1,000 moments after touching its intraday high.

Bitcoin Price Blasts Past $18,000 Again After 3 Years, $100,000 Possible

Bitcoin seems ready for the moon mission and may have, in fact, already left the base. The top cryptocurrency just blew past the $18,000 resistance with a 10 percent jump after exactly 3 years.

The entire crypto community was awestruck at this marvelous repeat of a bullish history. Quite a lot of them expressed their disbelief/excitement on Twitter, expecting BTC to chart a higher course post this latest price feat.

Dan Tapiero, a reputed macro investor with more than 25 years of experience under his belt, went ahead and remarked that the current bullish bitcoin wave would make 2017 look way too small. He also added that this rally is a result of inherently strong and solid fundamentals instead of shallow speculation.

TradingView based chartist KingThies, in a brief post yesterday, reminded his readers about bitcoin repeating history all over again.

He explicitly called bulls to have a ‘$100,000 BTC at the back of their minds’. It may seem ridiculous to even assume the possibility, but ‘one has to consider the logic on what the next trend high looks like, as we approach the current all-time high of $19.5k’. King commented: