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Bitcoin will see another peak followed by a bear market, one cryptocurrency industry expert suggested as the price nears $10,000.

Good news as bitcoin’s price soared above $10,000 on cryptocurrency exchanges for the first time in 15 months. The price hopped the $10K barrier at 7:35pm Eastern Time.

ANALYSIS TECHNICAL

Bitcoin Price (BTC) Jumps 10%: Road To $12K Now Wide Open.
Bitcoin price rallied recently above the key $10,000 resistance area against the US Dollar.
The price is currently trading well above the $10,600 level and it could continue to climb in the near term.
There is a key bullish trend line forming with support near $10,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair is likely to rally further above the $11,000 mark to register a solid uptrend.

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The upcoming reward halving may leave a bigger supply deficit if Facebook’s cryptocurrency Libra ends up boosting bitcoin’s appeal and adoption rate as predicted by some observers.

Therefore, the biggest macroeconomic picture looks bright for bitcoin investors who are dumping ever-depreciating fiat currencies for hard-capped “digital gold.”

What’s more, investors are starting to not only realize that bitcoin’s supply is fixed and transparent, but it’s also the world’s first neutral, open-access money that no authority can control.

In other words, what the internet did to information, bitcoin is starting to do to money.

Bitcoin has set a new price high for 2019, reaching as high as $11,304 today before conceding a short-term period of profit taking.

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ThinkMarkets chief market analyst Naeem Aslam predicts that bitcoin (BTC) will hit somewhere between $60,000 and $100,000 during its next bull run, according to a Fox Business interview on June 24.

Bitcoin Price Smacks $12.5K, BTC’s Bullish Acceleration Could Continue
There was a sharp increase in bitcoin price above the $11,800 and $12,000 resistances against the US Dollar.
The price surged above $12,200 and even traded to a new 2019 high near $12,500.

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The price of bitcoin on Wednesday came close to hitting the $13,000 level for the first time since January 2018. While the cryptocurrency could be on its way to reclaim its all-time high of $20,000, its wild bull run is also increasing the probability of an equally primitive bear correction.

Crypto exchange Coinbase experienced a brief outage Wednesday afternoon, with both its website and API rendered temporarily inaccessible, as the price of bitcoin dropped more than $1,700 in the span of 15 minutes.

According to Coinbase’s status page, the exchange reported major outages across its website, mobile apps and API, though its internal systems appeared to be functional during that period. When reached, a spokesperson told CoinDesk: “We’re back up.” At 5:17 ET, the exchange’s status page noted: “A fix has been implemented and we are monitoring the results.”