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Bitcoin Price Skyrockets to 2nd-Best Quarterly Gain in 5 Years; New All-Time High Coming?

Joseph Young
Bitcoin price is gaining massively in a tremendous quarter and the bull market is only starting. | Source: Shutterstock

By CCN: Bitcoin price is on track to having its second-best quarter since 2014 with a 92 percent gain within two months if it remains above $8,000 by the end of June.

Since April 1, in about a month and a half, the bitcoin price has increased from $4,100 to $8,000, by nearly two-fold against the U.S. dollar.


At its lowest point in December 2018, the bitcoin price was down about 85 percent from its all-time high at $20,000. As of May 20, bitcoin is down less than 60 percent from its record high following a powerful recovery in the second quarter of 2019.

Will bitcoin price see a 2017-esque rally?

The price trend of bitcoin so far into 2019 closely resembles that of its movement in 2017, a year in which it demonstrated arguably its strongest bull market as it surpassed $20,000 in key markets such as South Korea.

BItcoin began 2017 with a large 40 percent quarterly gain, followed up with an explosive 80 percent gain in the second quarter, and ended the fourth with a staggering 219 percent gain.

The dominant cryptocurrency was able to sustain its momentum throughout 2017 to achieve a new all-time high due to a sudden spike in retail interest supplemented with significant mainstream media coverage.

Read the full story on CCN.com.