Bitcoin (BTC) and the general crypto markets have been on the up-and-up over the past several months, incurring significant buying pressure that has allowed them to surge significantly from their 2018 lows that were mostly established in December of last year.
Now, analysts are noting that Bitcoin may soon surge higher based on a historical analysis, which means that BTC could be trading around $12,000 by the end of July.
Bitcoin Surges to $8,800 as Bulls Flex Their Strength
At the time of writing, Bitcoin is trading up nearly 5% at its current price of just below $8,800, up significantly from its daily lows of $8,380.
Over the past week, BTC has incurred massive buying pressure that has led its price to climb from lows of $7,600 to its current price levels.
This movement is a sign of strength for the cryptocurrency’s bulls, which may ultimately help lead the cryptocurrency into the next parabolic run that allows it to surge towards, or even past, its previously established all-time-highs.
As the month of June continues on and Bitcoin’s bulls continue to showcase their strength, it is not unreasonable to assume that the crypto will soon break into the five figure price region, which may spark the next massive bull run.