Overnight the price of Bitcoin went up ~15% and is now hovering around the $4700 mark.
This matters because it breezed through key resistance points at $4200 and $4500 with ease. In my opinion this rally is long overdue considering all the positive news we've heard surrounding bitcoin and multiple other cryptos.
Could this be a sign that crypto winter is over? I don't foresee a bull run like we saw in 2017 to occur anytime soon but the upward movement could signal a bull market is around the corner.
While everyone is celebrating the recent rise in prices we also need to keep in mind that what makes all the difference in this space is technological progress of these cryptocurrencies. Bitcoin and other cryptos have certainly been developed a lot recently and have had positive adoption. This is only a concern because we don't want another bull run like 2017 to occur and not have the technological capabilities to handle it.
Thanks for reading! HODL!
