Bitcoin Hits A Multi-Week High, Comes Close To $17k

With a climb of around 11% in just one day, Bitcoin has come to its highest price since mid-December. At the time of writing, one Bitcoin is worth $16,794 and the total market cap is $281 billion.

Bitcoin’s performance in 2018 has been encouraging for many people who have watched the profits ebb in parallel with the surge happening with altcoins. The trend made a pause after weeks of bearish action in December – but shows that Bitcoin will again rise to new heights.

After the dip from $20,000 to around $13,000 last month, it seems that Bitcoin is again hitting the $20k mark and an all-time high. On social media, the opinions are divided and no one knows if the price of Bitcoin will rise again.

 

Lots of questions flying in right now about #BTC.

1. I don't know when/IF it will keep rising. But, I think it will personally.
2. I am waiting patiently. Need patience in this game. I will be buying in when it is even lower. I believe another drop is coming.

🚀

— Crypto Godfather 教父 (@CryptoGodfatha) January 5, 2018

 

The optimism for well-known figures has remained unshaken. Despite the interest in Ripple over the past weeks, a few investors have sparked the popularity of Bitcoin and once again showed its true potential.

An online commentator of the crypto trends also scratched the surface of possibilities on Twitter, giving kudos to a theory that is circulating on Reddit regarding the current price movements in the Bitcoin and altcoin markets.

 

This is actually a very interesting theory on the #Bitcoin and current altcoin manipulation. TLDR; Big players can't accumulate Bitcoin without moving the price too much, so they pump and dump "cheap" alts to accumulate Bitcoin. https://t.co/oA0eW2KLE9

— WhalePanda (@WhalePanda) January 4, 2018

The post stirred a lot of discussion and made things even more interesting for Bitcoin. The big question is – will Bitcoin finally cross the $20k mark – and will that happen this month?